Trump Says He’s ‘Very Seriously’ Looking at Diesel Export Ban
- President Donald Trump confirmed on Sunday the White House is "thinking about it very seriously" regarding potential diesel export restrictions as prices hover near record highs ahead of November midterm elections.
- Politico reported last week the administration is preparing a plan to ban diesel exports for 90 days, though API CEO Mike Sommers warned that "restricting U.S. energy exports would only compound the problem."
- Average diesel prices hovered around $6.50 a gallon on Friday, just below the record high of $6.53 reached on Sept. 22, while Commodity strategists at Morgan Stanley warned of "a feedback loop to US gasoline prices."
- Benedict George, head of European product pricing at Argus Media, said a diesel export ban would send European prices "to a new unprecedented level," though oil traders doubt the measure will be implemented.
- Hostilities between Russia and Ukraine continue to strain global oil routes, with Trump having previously urged Ukrainian President Volodymyr Zelenskyy to stop targeting Russian oil refineries, saying the attacks are "hurting the world.
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28 Articles
Trump is eyeing an export ban on U.S. diesel. It could cause gas prices to soar, experts warn.
President Trump said he is "very seriously" considering a ban on diesel exports. But such a move could drive U.S. gas prices sharply higher, analysts said.
Diesel Drivers Paying Price For Govt Neglect
Alarm bells have been ringing about the prospect of President Trump banning the export of US diesel supplies, in an attempt to lower prices in the US domestic market. We rely on the US for about a fifth of our diesel. The post Diesel Drivers Paying Price For Govt Neglect appeared first on Watts Up With That?.
The two euros already costing diesel in Spain are an indication that Iran and Ukraine may be winning their wars against the United States and Russia. In the end, victory can be decided not in the Ukrainian plains or in the Iranian skies, but in the gas stations of America, China and Europe. Instead of ... Continue reading "diesel can give victory to Iran and Ukraine"
Trump Threats, Wars Push Global Fuel Prices: Here's Where The World Stands
Trump's proposed export restriction could therefore have an unusual effect: a policy designed to increase fuel availability in the US could reduce supplies elsewhere and intensify competition for diesel.
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