Home Business Biden’s Stock-and-Awe Oil Offensive

Biden’s Stock-and-Awe Oil Offensive

11
0


Biden’s move, explicitly targeting oil prices rather than a specific emergency, hews more to Beijing’s trading model. Historically, the U.S. SPR has been “dead oil,” removed from the market and unlikely to be used except in the most extreme circumstances. If this release heralds a more interventionist approach, that would represent a important change in the oil market — and a signal that the old preoccupation with scarcity, rooted in the 1970s supply shocks, is slipping away.

Previous articleBrian Laundrie died of gunshot wound to the head, final autopsy reveals
Next articleGerman official says everyone will soon be ‘vaccinated, cured or dead’

LEAVE A REPLY

Please enter your comment!
Please enter your name here