Editorial: Oil release is a gimmick; it won't provide long-term relief

The Detroit News

The problem with using the nation's Strategic Petroleum Reserves to drive down fuel prices is it's a temporary solution that, absent a cohesive long-term energy strategy, won't change the cost  trajectory.

President Joe Biden Tuesday ordered the release of 50 million barrels from the 605 million barrel oil reserve with the expressed goal of checking steadily rising gasoline and heating fuel prices. It's the first time an emergency release of the reserve has been used to control prices absent a disruption in oil production caused by natural disasters or foreign conflicts. 

Already a subscriber? Sign In

Subscribe to keep reading

Get unlimited digital access for only $1 for 6 months
Subscribe Now