Contingent Supply: The SPR in The Current Moment
Recent developments in oil markets show how important it is to follow through on the second half of the SPR strategy.
Arnab Datta
51 postsA Flexible Policy Toolkit: What The Biden Administration's Groundbreaking SPR Reform Unlocks
The administration’s recently proposed regulation for flexibly refilling the SPR is a welcome policy change with serious potential to deliver price and supply stabilization benefits.
The “Break Glass” Moment: Secretary Yellen Should Use the ESF to Insure and Accelerate Commodity Production
The Department of Treasury should be making use of the Exchange Stabilization Fund (ESF) to target accelerated supply-side responses and insure critical producers against downside risks.
Discretion is the Point: The Misunderstood Legal Bounds of the ESF
Given the discretion afforded the Secretary in utilizing the ESF, and the strong correlation between commodity price volatility and exchange rate volatility, the Secretary has the authority to establish a Supply Insurance and Acceleration Program for key commodities.
A Holistic Anti-Inflationary Strategy
The White House and Congress should consider an “all-of-the-above” approach oriented around three objectives: (1) investments where productive capacity; (2) targeted policies for reducing sectoral demand; and (3) policies that facilitate greater competition and technological diffusion.
