What is the overarching goal of United States energy policy? Most of my colleagues in Washington would agree it’s to minimize energy cost and pollution, incentivize reliability and innovation, and—as much as possible—rely on domestic supply. And yet, what we actually do is at odds with those goals. Consider: In 2020, when oil prices were falling, former President Trump threatened to withhold military aid from the Saudi government unless they reduced production to raise energy prices. If our goal is to lower energy costs, why would we ever put pressure on the Saudis when prices are “too” low? The International Monetary Fund has calculated that the United States subsidizes
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