US energy secretary says diesel export ban won't work after Trump backs idea
As fuel prices surged over the war in the Middle East, US President Donald Trump on Tuesday expressed support for a diesel export ban.
U.S. Energy Secretary Chris Wright stated on Wednesday that imposing a diesel export ban would not be effective and could lead to increased gasoline and jet fuel prices. President Donald Trump has backed the idea, despite the fact that diesel prices have skyrocketed to record highs due to the Middle East conflict and the Ukraine war.
Wright argued that if the U.S. cannot export the diesel produced in its refineries, it would face a storage crisis and be forced to reduce refining output, which would consequently push up gasoline and jet fuel prices. The ban could also lead to retaliatory actions from countries exporting fuel to the U.S., potentially harming states like California.
The administration is exploring other options to lower fuel prices, including working with the refining industry to increase U.S. diesel supply through voluntary means.
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Also reported by 5 other outlets
- EU says Trump plan to ban US diesel exports would ‘negatively impact both sides’ theguardian.com
- Big business warns Trump against diesel export ban in joint letter cnbc.com
- U.S. business groups warned Trump that a diesel export ban would backfire on prices qz.com
- US energy secretary says diesel export ban won't work after Trump backs idea channelnewsasia.com
- Macron says he pressed Trump not to ban diesel exports politico.eu