Oil and Gas- Political Analysis to lower oil prices
- jamessterrett48
- 2 days ago
- 2 min read
How to Lower Energy and Gas prices in a supply and demand shock
The United States is facing sky-high oil prices… prices are over 100$ a barrel. The current exact price is ~98.91$ a barrel of crude oil, and the price is up ~4.63% today. (Trading Economics, n.d.) As of February 2026, electricity prices are ~298.11$ compared to 277.36$ in February 2024. (Trading Economics, n.d.). The average price of gas as of late March 2026 in the United States in 3.98$ a gallon. (American Automobile Association, n.d.) A typical 15-gallon tank would cost ~$60 a fill-up.
To solve this issue, switching from oil stoves to gas or electric stoves will save money in the long run and reduce pressure on the oil supply. It will also help the environment (another bonus). Electric cars are selling at a steep discount (new and used), and hybrids too, so picking up an electric car will save tons of money on gas costs. Increasing and buying more gas-efficient cars would drastically decrease gas use and gas/oil prices. Oil is also used in plastic, so not littering, recycling, and bringing a reusable water bottle would drastically improve pollution, trash, and lower oil demand.
Increasing solar power/investing in solar, building offshore and land turbines, and finally geothermal vents will lower electricity prices and decrease oil prices. Increasing energy-efficient appliances and things that use electricity is crucial. Finally, researching technology that is more energy efficient will help lower energy use, lower energy prices, save money, and finally lower crude/gas prices. Switching from oil/gas landscaping tools to electricity will: save money, help the environment, and lower oil and gas prices. Creating more energy-efficient boats/gas-efficient boats will also lower oil and gas prices. Another good solution is to improve truck fuel efficiency. Finally, increasing the amount of carpooling, walking, biking, and working from home will lower the oil + gas price shock.
Finally, selling major United States oil reserves to tame down oil prices temporarily due to the US- Iran war will help the United States make a profit on its oil as the oil may fall down to $40-$58 a barrel after the war ends; so, it is a profitable time to sell, and it will ease demand and the cash crunch throughout the United States. The United States has an oil reserve, for emergencies and war, called the SPR, or the Strategic Petroleum Reserve. (Axios, 2026) It currently is at 415.4 million barrels, a three-decade low. (Axios, 2026) In 2010, the SPR’s reserve was over 700 million barrels of oil. (Axios, 2026)
Citations
1. Trading Economics – Crude Oil
Trading Economics. (n.d.). Crude oil. Retrieved March 27, 2026, from https://tradingeconomics.com/commodity/crude-oil
2. Wall Street Journal article
Note: WSJ pages sometimes require login; date inferred if not clearly visible.
The Wall Street Journal. (2026). From four-day weeks to AC bans, the world is scrambling to save energy. https://www.wsj.com/finance/commodities-futures/from-four-day-weeks-to-ac-bans-the-world-is-scrambling-to-save-energy-e16ccd81
3. Trading Economics – U.S. Electricity CPI
Trading Economics. (n.d.). United States: Consumer price index for electricity. Retrieved March 27, 2026, from https://tradingeconomics.com/united-states/consumer-price-index--all-urban-consumers--electricity-fed-data.html
4. AAA Gas Prices
American Automobile Association. (n.d.). Gas prices. Retrieved March 27, 2026, from https://gasprices.aaa.com/
5. Axios article (Oil prices / Iran war)
Axios. (2026, March 12). Oil prices, reserve, Iran war. https://www.axios.com/2026/03/12/oil-prices-reserve-iran-war
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