Oil Prices and Energy Policy
David McCormick, US Treasury Under Secretary for International Affairs
Peterson Institute for International Economics, Washington, DC
July 29, 2008
Under Secretary of the Treasury David McCormick addressed the issue of oil prices and energy policy at the Peterson Institute for International Economics on July 29, 2008. Two crucial questions are the causes of the current rise in prices and what steps can be taken to address them. He discussed the current dynamics in the oil markets as well as the policy approaches that will be required to bring prices down in the medium to longer term.