President Biden has had to walk a careful tightrope on energy and climate change in the weeks since U.S. sanctions on Russian oil and gas sent energy prices soaring.
The announcement was aimed to assure markets that there would be “no shortfall” as a result of Russia’s invasion of Ukraine, but oil prices kept rising, closing above $100 a barrel.
President Biden is under pressure to release oil from the Strategic Petroleum Reserve. Here’s how it works, and how it might lower prices (modestly, and maybe not for long).
