Friday, October 27th 2023 Story: Biden administration explores strategies to mitigate potential oil price hikes
Today is Friday, October 27th 2023 and the following is an environmental story in the news for today and some opinion and analysis from Sylvan Green, the publisher of Greenprofiler.com (GP):
Story: Biden administration explores strategies to mitigate potential oil price hikes
What stands out as a significant issue in the oil price scenario for the Biden administration is whether the geopolitical crisis in the Middle East is urgent enough to warrant tapping into the Strategic Petroleum Reserve (SPR), which was recently depleted because of the Russian invasion of Ukraine. Terrorism in and from the Middle East is and has been a major threat to America. One would wonder how the SPR can be tapped considering that it has been recently depleted but maybe the SPR can be symbolically tapped instead of substantively tapped in order to send a signal to the energy markets that this is indeed a major issue that needs to be acknowledged.