Experts Warn Trump’s Diesel Export Ban Could Raise Gas Prices
- On Friday, President Donald Trump and Republican lawmakers considered restricting U.S. diesel exports to lower costs ahead of the midterm elections, as average prices hit $6.50 per gallon.
- Inventories fell to 107.9 million barrels by September 11, the lowest level in over four decades, while rising costs emerged as a top voter concern for the upcoming midterms.
- Analysts at Wood Mackenzie warned a complete ban could force refineries to cut production by 750,000 barrels daily, potentially increasing prices for U.S. consumers and global markets.
- Congressman Tim Burchett introduced legislation to restrict exports if prices reach $5 per gallon, though the White House stated President Trump is currently evaluating all available policy options.
- The Houston Chronicle editorial board criticized the plan Thursday, arguing the United States lacks "one big, frictionless domestic oil and gas market" and that export bans could backfire.
55 Articles
55 Articles
The current global shortage of diesel could deepen even more if American oil companies voluntarily reduce exports of this oil derivative, or, even worse, if the administration of Donald Trump completely bans exports, warn energy experts around the world.
They sold us America as a reliable supplier. Serious. Friend. Then it was enough a sentence, pronounced by Donald Trump Tuesday in New York, between a coffee and the other at the General Assembly of the UN: diesel is not sent out anymore. So much enough. Wednesday morning, in London, the future Europeans on diesel flew 7%, at 1,528 [...] The article Trump blocks diesel: so Europe pays the bill of American roulette comes from Il Fatto Quotidiano.
The EU has strengthened its energy links with the US while at the same time trying to reduce its exposure to geopolitical shocks. However, US plans to limit diesel exports reveal how quickly commercial dependence can become...
Would Trump's Proposed Diesel Export Ban Reduce U.S. Energy Prices? Actually, It Might Backfire. Here's Why.
Trump might not follow through on an export ban, but if he does, it could cause more harm than good for Americans -- and energy stocks might suffer, too.
Trump’s plan to ban diesel exports aggravates Europe and Latin America’s energy crisis
Facing record-high diesel prices at home, the Republican president is making a move before the November midterms. The resulting price spiral will have a negative impact outside the US
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