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PoliticsFading · day 2

Trump considers diesel export ban despite economic drawbacks

GOP weighs restricting exports to lower fuel costs ahead of midterms, alarming the oil industry.

newest coverage 1h agosummary written 6h ago3 pieces NewswiresReddit

What to know

  • Trump and GOP lawmakers are pushing a diesel export ban to lower domestic fuel prices ahead of midterms, though the U.S. produces a surplus and the policy is opposed by the oil industry.
  • Diesel prices hit a record $6.53/gallon on September 21, driven by global commodity markets and geopolitical factors (Iran and Ukraine wars), creating political pressure on the administration.
  • Analysts warn the ban would backfire economically: refiners would cut production, potentially worsening long-term fuel supply and prices, but political desperation makes it likely anyway.

“The US is not short of diesel but Republicans' odds for the midterms appear ever longer. So a ban on diesel exports, terrible idea though it is, now looks more likely.”

Liam Denning, Bloomberg Opinion columnist · Bloomberg Opinion / Channel News Asia ↗ · Sep 22

Donald TrumpDonald Trump U.S. PresidentJohn ThuneJohn Thune U.S. Senator (R)Chuck GrassleyChuck Grassley U.S. Senator (R)American Petroleum Institute Oil industry trade groupLiam Denning Bloomberg Opinion columnist

Trump considers diesel export ban despite economic drawbacks
Channel News Asia

How it unfolded 2 developments, newest first · click a bar or a number to jump articles

Peak 1 piece in one hour at Sep 23, 11 AM; 3 pieces over 2 days (2 articles · 1 post) Sep 23, 11 AM — 1 piece · 1 article — Newswires 1Sep 23, 12 PM — quietSep 23, 1 PM — quietSep 23, 2 PM — quietSep 23, 3 PM — quietSep 23, 4 PM — quietSep 23, 5 PM — quietSep 23, 6 PM — quietSep 23, 7 PM — quietSep 23, 8 PM — quietSep 23, 9 PM — quietSep 23, 10 PM — quietSep 23, 11 PM — quietYesterday, 12 AM — quietYesterday, 1 AM — quietYesterday, 2 AM — quietYesterday, 3 AM — quietYesterday, 4 AM — quietYesterday, 5 AM — quietYesterday, 6 AM — quietYesterday, 7 AM — quietYesterday, 8 AM — quietYesterday, 9 AM — quietYesterday, 10 AM — quietYesterday, 11 AM — quietYesterday, 12 PM — quietYesterday, 1 PM — quietYesterday, 2 PM — quietYesterday, 3 PM — quietYesterday, 4 PM — quietYesterday, 5 PM — 1 piece · 1 article — Newswires 1Yesterday, 6 PM — quietYesterday, 7 PM — quietYesterday, 8 PM — quietYesterday, 9 PM — quietYesterday, 10 PM — quietYesterday, 11 PM — quietToday, 12 AM — quietToday, 1 AM — quietToday, 2 AM — quietToday, 3 AM — quietToday, 4 AM — quietToday, 5 AM — quietToday, 6 AM — quietToday, 7 AM — quietToday, 8 AM — quietToday, 9 AM — quietToday, 10 AM — quietToday, 11 AM — 1 piece · 1 post — Reddit 1Today, 12 PM — quiet ◂ 1 earlier2
yesterdaytodaynow · 1:27 PM ET
  1. 2

    American Petroleum Institute opposes export ban

    The API, normally supportive of Trump, pushed back against the diesel export ban idea the evening of Trump's statement, signaling alarm in the oil industry.

    “Let's not send out the diesel.”
    — Donald Trump, U.S. President · source
    1. 1 outlet Commentary: A diesel export ban is a bad idea. Trump needs it anyway

      first by Channel News Asia, 19h ago

    2. 1 outlet A Diesel Export Ban Is a Bad Idea. Trump Needs It Anyway

      first by Bloomberg, 2d ago

  2. background

    Trump calls for diesel export ban — President Trump stated "Let's not send out the diesel" on Tuesday (September 23), signaling openness to restricting exports. Republican Senators John Thune and Chuck Grassley have also signaled support for the ban.

  3. 1

    Ban framed as political gambit with economic costs

    Bloomberg Opinion columnist Liam Denning argues that while a diesel export ban is economically harmful, political pressure from declining GOP midterm odds and Trump's falling polls make it increasingly likely. The U.S. produces 5.2 million barrels of diesel daily but only consumes 3.5–4.0 million domestically, with 1.5 million exported.

    “It would be a short-term fix for Trump's largely self-inflicted problems, at the expense of US energy production and security.”
    — Liam Denning
  4. background

    Diesel prices hit record high — U.S. diesel prices reached an all-time high of nearly $6.53 per gallon, driven by global commodity markets, the Iran war, and the Ukraine war.