Welcome to the dispatch podcast. I'm your host back again. Sarah is

joined by David French, Jonah Goldberg and Scott Linsecombe this week. We have

plenty to discuss tapping into the oil reserves and what that may or may not do

to affect inflation. The will Smith slap and then we have got some

popery and frankly our producers have dared us that if we can get through all

the popery in two hours, we all get around from them. So let's see if we

can do it.

Let's dive right in. Scott coming straight to you on the oil reserves.

President Biden has said he's going to tap into an unprecedented amount

releasing from the strategic petroleum reserve, but it didn't affect markets

that much. We initially saw about a 6% dip that rebounded about 5% pretty

quickly. Big conversation happening of whether this will reduce gas prices at

the pump for Americans much if at all. And long term whether moving this much

out of the oil strategic petroleum reserve that will need to be replaced at

some point will actually artificially inflate prices down the line. What say

you Scott Lensacom? Well, so there's a few problems. Well, first of all, let's

I'll defend Biden in one sense. Tapping the SPR is a classic move by

presidents, Republican and Democrat going back generations. It is just one of

those things that politics gives us regardless of who's in office. But that

of course segues into the fact that it's going to be pretty ineffective. It's

going to be ineffective for a few reasons. One is just as I wrote in my newsletter

a few weeks ago, oil is traded on global markets. A 1 million barrel release

...