iden administration to release millions of more barrels from SPR. @aljazeera

18 Oct 2022 · 1 min
1:14

In this Arabic interview, broadcaster Speaker A cites Reuters and Bloomberg reports that the Biden administration intends to release 10–15 million barrels from the United States Strategic Petroleum Reserve (SPR) ahead of the upcoming election to curb gasoline prices. Dr. Omid Shokri, an energy‑security analyst based in Virginia, explains that the move is primarily aimed at stabilising domestic fuel prices, which are closely tied to election politics. He notes that the SPR draw will have only short‑term market effects and that the United States faces a broader energy‑security challenge due to OPEC+ production cuts of roughly two million barrels per day. Shokri argues that beyond SPR releases, the only viable longer‑term solution is cooperation with Gulf states, rather than attempting to curb the profits of major energy companies, which he says is not a feasible policy lever. The discussion highlights the tension between immediate price‑control measures, geopolitical supply dynamics, and the limited policy toolbox available to the administration.

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