2 hrs ago
Trump Backs Diesel Export Ban Amid Global Fuel Supply Squeeze
Donald Trump wants to consider keeping more diesel in the United States.
Diesel is used by trucks, farmers, builders and many other businesses.
Supporters say keeping fuel at home could help increase American supplies and lower prices for some people.
Officials are still studying whether to ban all exports or only some exports.
Critics say a ban could make US refiners produce less fuel, which might also reduce gasoline supplies.
Other countries could also respond by limiting energy exports to the United States.
Diesel supplies are already under pressure because of fighting, attacks on Russian refineries and Russian export restrictions.
Europe could be hurt because it buys diesel from the United States and other countries.
India may be less directly affected because it has large refineries and does not rely on the United States for diesel.
Donald Trump said he supports stopping US diesel exports as domestic fuel prices rise ahead of November midterm elections.
Treasury Secretary Scott Bessent said officials are studying whether a full or partial export ban could be implemented.
Supply disruptions linked to the Iran conflict, Russian export restrictions and attacks on Russian refineries are tightening global diesel markets.
Europe has experienced record diesel prices and is increasingly relying on supplies from the United States, India and other exporters.
The ban may have limited direct effects on India but could significantly affect Latin America and parts of Europe that depend on US diesel shipments.
- Who
- US President Donald Trump proposed supporting a diesel export ban; Treasury Secretary Scott Bessent said the administration is studying it.
- What
- The United States is considering a full or partial halt to diesel exports.
- Where
- The proposal concerns US diesel exports and could affect markets in Europe, Latin America and India.
- When
- Trump made the remarks on Tuesday, ahead of the November midterm elections; the article also cites September price and trade data.
- Why
- Supporters want to rebuild US diesel reserves and address high domestic prices, while critics warn that restricting exports could reduce production and global supplies.
Ban Supporters
Ban Critics
Domestic prices and reserves
Ban Supporters
Supporters, including Trump and Senator Dan Sullivan, say American diesel should stay at home to rebuild reserves and help reduce high domestic fuel costs.
Ban Critics
Energy Secretary Chris Wright argues the United States needs more supply, not barriers to fuel flows, and says export restrictions could reduce production.
Effect on US fuel production
Ban Supporters
Supporters say a temporary pause could protect American families and improve fuel availability before winter.
Ban Critics
Wright warns that excess diesel on the US Gulf Coast could cause refiners to cut production, potentially reducing gasoline supplies as well.
International consequences
Ban Supporters
Supporters focus on keeping American fuel for domestic consumers, particularly while diesel prices are high.
Ban Critics
Interior Secretary Doug Burgum warns that other energy-exporting countries could retaliate, while analysts say Europe and Latin America could face tighter supplies.
Key facts
- Proposal
- A full or partial US diesel export ban is under consideration.
- US diesel prices
- They have reached record levels, according to the article.
- European benchmark
- Northwest Europe diesel reached $1,642.25 per metric tonne on September 15, the highest level since the assessment began.
- Middle Eastern exports
- Diesel exports to Europe were averaging about 110,000 barrels per day in September, compared with 191,000 barrels per day in August.
- Indian supply role
- Indian refiners supplied about 60% of diesel and gasoil moving through the Bab-el-Mandeb route toward Europe in August.
- European shipments
- About 200,000 barrels per day of diesel and gasoil moved through that route on ships headed for Europe in August.
- Russia-India trade
- India imported about 2.1 million barrels per day of Russian crude in August, with imports expected to fall further in September.
Quotes
Donald Trump
US president commenting on Ukrainian attacks against Russian diesel facilities
“American fuel should stay home with Americans. The cost of diesel is just too damn high. I’m calling for a temporary pause of American diesel exports so that we can rebuild our reserves ahead of winter and put American and Alaskan families first.”
financialexpress.com
“If you start putting barriers on flows, pretty quickly you will reduce the production, and you’ll have less supply. We need more supply, not less supply.”
financialexpress.com
Sources
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