The White House Is Telling Oil Companies, Don't Use Your Leases

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White house is saying to the oil producers, produce more oil. Hurry up. Produce more oil. You need to do it. Wall street is telling these companies, don't please. We like your profits, you know, theare existent. Such a star difference from before the war, when the government was really focused on green energy and alternatives to oil. I think the the great irony of all this is that as soon as petral prices in the us got over four dollars a gallon, which they are now, the climate a gender that byden was so focused on when he came into office, has been relegated. He's very much focused on the mid term tions

The White House announced a “historic release” of about 180mn barrels of oil from the US emergency stockpile in an attempt to cool oil prices, and the two-year Treasury yield this week rose above the 10-year Treasuries for the first time since 2019. FT markets editor, Katie Martin, explains what this signals for the US economy.

Mentioned in this podcast:

US orders biggest ever release from Strategic Petroleum Reserve

US yield curve inverts in possible recession signal

US bonds: don’t fret about inversion yet

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The FT News Briefing is produced by Fiona Symon and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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