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Gas prices in Arlington, Va., on Oct. 30, 2021. Photo: Yasin Ozturk/Anadolu Agency via Getty Images

GLASGOW, Scotland The discussions over tapping the U.S. Strategic Petroleum Reserve in a bid to bring down gas prices continue at the highest levels of government, Deputy Secretary of Energy David Turk told Axios.

Why it matters: The Biden administration is trying to strike a delicate balance between emphasizing a push to pour hundreds of billions into clean energy technologies, including electric vehicle charging stations, while at the same time dealing with an energy supply crunch driving up prices.

Details: Turk, speaking to Axios at COP26, said if past administrations had made greater strides in renewable energy technologies, we might not be feeling the squeeze quite so acutely. Gas prices have increased by $1.314 since the same time last year, according to the Energy Information Administration.

  • "There is no doubt we need to have affordable, reliable, resilient energy in our country and other countries. It's a political imperative. It's necessary for people's jobs, livelihoods, etc, etc. And at the same time, we have a climate imperative," Turk said.
  • "And so of course, we're looking at whether it's the SPR or other mechanisms, but we [have a] variety of different tools in the tool belt," Turk said.
  • Turk said the conversations he's been a part of with senior White House officials have a "seriousness of purpose" that focuses on "what's hurting real people in the real world."

Context: Democrats are looking for ways to shield the public from some of the impacts of rising costs, including gas prices. The rising cost of living likely played a role in the defeat of Democratic gubernatorial candidate Terry McAuliffe in Virginia last week.

Go deeper: What to know about COP26 in Glasgow

Go deeper

Electric car prices could go up before they come down

Illustration: Eniola Odetunde/Axios

The secret to affordable electric vehicles is cheaper batteries. But after years of falling prices, battery costs are now headed in the wrong direction.

Why it matters: Costlier batteries could drive up the price of electric vehicles — threatening the auto industry's transition away from fossil fuels, and, in turn, society's fight against climate change.

Abrams’ campaign manager rules out 2024 run if she wins governor's race

Photo: Jessica McGowan/Getty Images

In her first major interview since the official announcement, Stacey Abrams' campaign manager Lauren Groh-Wargo quashed speculation that the Georgia Democrat would interrupt a theoretical gubernatorial term to run for president in 2024.

Why it matters: Abrams' name has come up repeatedly as a top 2024 Democratic contender given President Joe Biden's age and Vice President Kamala Harris's low favorability rating.

Dan Primack, author of Pro Rata
Updated 46 mins ago - Politics & Policy

Trump social media group raises $1 billion from undisclosed investors

Illustration: Sarah Grillo/Axios

Donald Trump's social media startup on Saturday announced that it secured $1 billion in new investment as part of its ongoing efforts to become publicly traded via a blank check company.

Between the lines: None of the investors were identified, which is highly unusual for this sort of transaction.

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