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.
The Relevance of the SPR's Acquisition Authority to Furthering Climate Goals
Creative production contracts involving the sale of put options (as we previously advocated for), could help set a soft “floor” on oil prices, preventing a large-scale return to consumer purchases of gas-guzzling cars.
The Physical Capacity Shortage View of Inflation
Repeated price crashes in a variety of industries led to a situation of underinvestment in productive capacity that created the conditions for the inflation we see today.
