Simon Henderson is the Baker fellow and director of the Bernstein Program on Gulf and Energy Policy at The Washington Institute, specializing in energy matters and the conservative Arab states of the Persian Gulf.
Articles & Testimony
Besides reopening the debate about proper use of the strategic reserve, the decision is not guaranteed to sway Washington’s tussle with Moscow and Riyadh.
Political decisions are about both action and effect. Today’s announcement of the release of oil from the Strategic Petroleum Reserve is a good example. The Biden administration, facing the problem of rising prices for gasoline (and a plunge in the president’s ratings), took action. It has done something. Unfortunately, whether the decision will have the desired impact on prices is another question. The excuses are included, though a little obscurely, in the announcement...