Well that's a starting point.
During a portion of an interview with Bloomberg on Friday, economist, Harvard Professor, Director of the National Economic Council under President Barack Obama, and Treasury Secretary under President Bill Clinton Larry Summers said that President Joe Biden “should stop all talk of windfall profits taxes as the single most important thing he can do to incentivize oil companies.”
Summers stated, “I think the president should stop all talk of windfall profits taxes as the single most important thing he can do to incentivize oil companies. I think the use of the Strategic Petroleum Reserve is a good idea, but I would favor doing it in a slightly different way. The government can lock in a profit. What the government should do is sell all this oil and should commit to a buyback of oil, using the forward market at the substantial discount that’s available.
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