New York Times: “Biden Seeks to Tame Oil Prices if Mideast Conflict Sends Them Soaring”
RFF President and CEO Richard G. Newell shares his expertise in an article about the possibility of the Biden administration authorizing releases from the US Strategic Petroleum Reserve.
The U.S. economy is also less vulnerable to a price spike than in previous decades because the country has become less dependent on foreign oil. The United States produced more than 400 million barrels of oil in July, a record.
“There’s still a lot of oil in the US strategic reserve, and the US is not in this alone,” said Richard Newell, president and chief executive of Resources for the Future, an energy-focused think tank. He noted that other countries had their own strategic reserves.
Richard G. Newell
President and CEO, Resources for the Future
Dr. Richard G. Newell is the President and CEO of Resources for the Future. From 2009 to 2011, he served as the administrator of the US Energy Information Administration, the agency responsible for official US government energy statistics and analysis.
In Focus — Nov 28, 2023
In Focus: Native Nations and the Energy Transition
This video shares a brief overview of the economic dependence of some Native nations on fossil fuel production and the challenges of a transition to a clean energy system in the United States for these nations.
Common Resources — Nov 28, 2023
Native Nations in the Energy Transition
An ongoing research project explores energy development and production on Native American lands, along with the obstacles and paths to energy sovereignty for Native Nations.
Media Highlight — Nov 10, 2023
Energy Evolution: “Fighting Climate Change with Carbon Offsets and Fossil Fuel Retirement Credits”
RFF Fellow Brian Prest is a guest on an S&P Global podcast episode about how carbon offset markets and oil and gas retirement credits and help serve decarbonization efforts.