{"id":34992,"date":"2026-03-19T15:21:50","date_gmt":"2026-03-19T19:21:50","guid":{"rendered":"https:\/\/poole.ncsu.edu\/thought-leadership\/?p=34992"},"modified":"2026-03-19T15:21:53","modified_gmt":"2026-03-19T19:21:53","slug":"steve-allen-discusses-strategic-petroleum-reserve-oil-release-with-abc-news","status":"publish","type":"post","link":"https:\/\/poole.ncsu.edu\/thought-leadership\/article\/steve-allen-discusses-strategic-petroleum-reserve-oil-release-with-abc-news\/","title":{"rendered":"Steve Allen Discusses Strategic Petroleum Reserve Oil Release with ABC News"},"content":{"rendered":"\n\n\n\n\n

The U.S. and Israel-led war with Iran has had a significant impact on oil prices. With traffic in the Strait of Hormuz stymied, global oil prices have crossed the $100-a-barrel mark, a 44% increase since the war started. Gas prices in America are up by an average of 73 cents per gallon. To help ameliorate the situation, the White House approved the release of oil from the Strategic Petroleum Reserve (SPR), a source of emergency oil kept by the United States government for supply crunches.<\/p>\n\n\n\n

ABC News reached out to Steve Allen<\/a>, a professor of economics at the Poole College of Management, for his thoughts on how the SPR might help. He doesn\u2019t think it will help much long term, telling the news outlet \u201cI don\u2019t see this as much more than a band-aid with weak adhesive.\u201d<\/p>\n\n\n\n

Read more at ABCNews.com<\/a>.<\/p>\n","protected":false,"raw":"\n\n\n\n\n

The U.S. and Israel-led war with Iran has had a significant impact on oil prices. With traffic in the Strait of Hormuz stymied, global oil prices have crossed the $100-a-barrel mark, a 44% increase since the war started. Gas prices in America are up by an average of 73 cents per gallon. To help ameliorate the situation, the White House approved the release of oil from the Strategic Petroleum Reserve (SPR), a source of emergency oil kept by the United States government for supply crunches.<\/p>\n\n\n\n

ABC News reached out to Steve Allen<\/a>, a professor of economics at the Poole College of Management, for his thoughts on how the SPR might help. He doesn\u2019t think it will help much long term, telling the news outlet \u201cI don\u2019t see this as much more than a band-aid with weak adhesive.\u201d<\/p>\n\n\n\n

Read more at ABCNews.com<\/a>.<\/p>\n"},"excerpt":{"rendered":"

The Poole economics professor sees it as ‘a band-aid with weak adhesive’ in the face of rising oil prices.<\/p>\n","protected":false},"author":39405,"featured_media":16804,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"source":"","ncst_custom_author":"","ncst_show_custom_author":false,"ncst_dynamicHeaderBlockName":"ncst\/default-post-header","ncst_dynamicHeaderData":"{\"displayCategoryID\":170,\"showAuthor\":true,\"showDate\":true,\"showFeaturedVideo\":false,\"subtitle\":\"The Poole economics professor sees it as 'a band-aid with weak adhesive' in the face of rising oil prices.\"}","ncst_content_audit_freq":"","ncst_content_audit_date":"","ncst_content_audit_display":false,"ncst_backToTopFlag":"","footnotes":""},"categories":[122,170,77],"tags":[276,146,327,687],"_ncst_magazine_issue":[],"series":[],"class_list":["post-34992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economics","category-in-the-news","category-newswire","tag-allen","tag-economics","tag-in-the-news","tag-iran"],"displayCategory":{"term_id":170,"name":"In the News","slug":"in-the-news","term_group":0,"term_taxonomy_id":170,"taxonomy":"category","description":"","parent":0,"count":338,"filter":"raw"},"acf":{"ncst_posts_meta_modified_date":null},"_links":{"self":[{"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/posts\/34992","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/users\/39405"}],"replies":[{"embeddable":true,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/comments?post=34992"}],"version-history":[{"count":4,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/posts\/34992\/revisions"}],"predecessor-version":[{"id":35021,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/posts\/34992\/revisions\/35021"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/media\/16804"}],"wp:attachment":[{"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/media?parent=34992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/categories?post=34992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/tags?post=34992"},{"taxonomy":"_ncst_magazine_issue","embeddable":true,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/_ncst_magazine_issue?post=34992"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/poole.ncsu.edu\/thought-leadership\/wp-json\/wp\/v2\/series?post=34992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}