Why Biden’s Iranian oil dilemma has major global energy stakes

President Joe Biden is facing a complicated Iranian dilemma in light of Hamas’ attacks on Israel: clamp down on Tehran to cut off its money from oil exports and potentially provoke a spike in global energy prices. Manuel Quiñones, the congress editor of POLITICO’s E&E News, breaks down the complicated factors behind Biden’s decision and potential consequences. Plus, the Environmental Protection Agency withdrew its new cybersecurity mandates for water utilities issued back in March citing litigation against the measures. For more news on energy and the environment, subscribe to Power Switch, our free evening newsletter: https://www.politico.com/power-switch And for even deeper coverage and analysis, read our Morning Energy newsletter by subscribing to POLITICO Pro: https://subscriber.politicopro.com/newsletter-archive/morning-energy Catherine Morehouse is an energy reporter for POLITICO and the host of the POLITICO Energy podcast. Manuel Quiñones is the congress editor for E&E News. Nirmal Mulaikal is a POLITICO audio host-producer. Kara Tabor is an audio producer for POLITICO. Gloria Gonzalez is the deputy energy editor for POLITICO. Matt Daily is the energy editor for POLITICO.