Energy is required to power virtually all economic activity, with oil and gas integrated into the production, distribution, and consumption of almost every good and service. Our research examines how energy markets function and how policy can ensure stable, affordable supplies while supporting the transition to cleaner sources. When Russia's invasion of Ukraine threatened global energy prices, we developed innovative policy solutions using the Strategic Petroleum Reserve to stabilize markets without sacrificing domestic production capacity. By addressing the actual constraints to investment in domestic energy—primarily price volatility risk—our approach demonstrates how targeted interventions can simultaneously address price pressures, energy security, and employment in this crucial sector.