In early 2022, economist Catherine Wolfram was at her desk in the U.S. Treasury building. She could see the east wing of the White House, just steps away. Russia had just invaded Ukraine, and Wolfram was thinking about Russia, oil, and sanctions. She and her colleagues had been tasked with figuring out how to restrict the revenues that Russia was using to fuel its brutal war while keeping Russian oil available and affordable to the countries that depended on it. Now the William F. Pounds Professor of Energy Economics at…
