We Need Long-Term Answers To Energy Needs
We find the news that President Joe Biden is releasing a million barrels of gasoline from a federal reserve more of a frustration than a relief. Releasing petroleum from reserves is a short-term band-aid that carries real risks. If a crisis or prolonged economic downturn comes, the U.S. may well regret tapping into this supply. The United States instead should be pursuing long-term solutions — promoting or incentivizing the production of domestic oil and gas and investment in increased refinery capacity. As we have editorialized before, the benefits of developing domestic energy ...