Daniel Yergin writes in The Financial Times about ways to reduce gas prices.
- The Biden administration has tapped the Strategic Petroleum Reserve for political purposes more than any other administration in history.
- While gas prices are determined by the global market, not one individual, there are several options that the administration can pursue to lower energy costs for consumers.
- To start, the administration should stop politicizing energy production which reduce market volatility and investor fears.
- Secondly, policymakers should allow more flexibility in the production and distribution of the different summer grades of petrol and eliminate the ethanol mandate.
“A further option would be to allow more flexibility in the production and distribution of the different summer grades of petrol. Some in Congress will inevitably urge banning petrol exports, as they have before, but that would be deeply damaging to the credibility of the US as a reliable energy supplier.”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
