Morning Business Report: Trump Administration Reviews Possible Diesel Export Ban as Fuel Costs Hit Records
11 Articles
11 Articles
Washington is unlikely to decide to ban the export of diesel because the solution would be too risky, for example, limiting oil companies' revenues, increasing diesel prices outside the United States, and undermining the credibility of US energy policy, said HZGLAD newspaper economist Igor Youshkov. "The US has enough tools to stabilize the domestic fuel market. For example, US authorities can announce negotiations with Iran to unblock the Ormuz…
Morning Business Report: Trump administration reviews possible diesel export ban as fuel costs hit records
(LILAMAX)- President Donald Trump says his administration is reviewing a possible ban on U.S. diesel exports as record fuel prices put pressure on farmers, truckers and businesses. The proposal comes as lawmakers have called for restrictions on diesel exports in an effort to increase domestic supply and limit price increases. The United States is a major diesel exporter, while domestic...
Trump Diesel Export Ban Could Raise US Fuel Prices for Farmers and Truckers
The Trump administration's proposed diesel export restrictions could backfire by reducing refinery output, tightening domestic supply, and driving up U.S. fuel prices. Global market dynamics, export-dependent refining economics, and historical precedents suggest the policy would likely increase costs for farmers, truckers, and consumers rather than provide relief.
Oil prices remained near their lowest levels in more than two weeks as improved crude supplies from the Persian Gulf weighed on the market. Meanwhile, diesel refining margins hit a new record amid concerns about a potential curb on US diesel exports. Brent crude futures were down 0.19% at $99.08 a barrel at midday on Wednesday, while US West Texas Intermediate (WTI) futures were down 0.89% at $89.71.
Trump Fuels Economic Ignorance
TweetHere’s a letter to the Wall Street Journal. Editor: Reporting on the GOP’s call to ban diesel exports, you quote President Trump: “I’ve said let’s not send out the diesel. We make a lot of diesel” (“Republicans Are Running on Empty,” September 23). Mr. Trump is deeply confused. He incessantly accuses foreigners of “ripping us […]
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