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Bessent says administration studying the feasibility of a diesel export ban
Posted on 9/22/26 at 4:55 pm
Posted on 9/22/26 at 4:55 pm
quote:CNBC
The Trump administration is looking into whether implementing a diesel export ban would ease record high prices for the critical fuel, Treasury Secretary Scott Bessent said Tuesday.
“We’re examining whether it’s feasible in terms of the overall refining capacity and whether a full or partial ban would work,” Bessent said at a bilateral meeting between President Donald Trump and Ukrainian President Volodymyr Zelenskyy at the United Nations.
Trump said Tuesday he’s advocated for a diesel export ban during internal administration deliberations. The president said a decision would quickly be made “one way or another” on whether to implement a ban.
“I’ve said let’s not send out the diesel. We make a lot of diesel,” Trump told reporters. Republican lawmakers including Sen. Chuck Grassley of Iowa have called for an export ban as high diesel prices hit farmers and truckers ahead of the November midterm elections.
Diesel in the U.S. has surged to a record high $6.53 per gallon, almost $3 above the level last year, according to data from AAA. In California, diesel costs $8.44 per gallon.
Fuel prices have jumped as the wars in Eastern Europe and the Middle East have slashed global refining capacity.
Ukraine’s attacks on Russian refineries have forced Moscow to implement a diesel export ban. Refineries in the Middle East have also come under attack from Iran and its Houthi allies. And product exports through the Strait of Hormuz are constrained due to Iranian threats to tankers.
U.S. refiners have rushed to take advantage, ramping up diesel exports to help supply the world and reap sky-high profits. Diesel cost around $207 a barrel Tuesday, more than $100 above the price of crude oil.
Diesel plays an essential role in the economy. It fuels the trucks and trains that deliver goods to market and the farm equipment that harvests crops. Higher diesel prices trickle down to consumers in higher grocery bills and what they pay for consumer products.
Posted on 9/22/26 at 4:56 pm to bigjoe1
While the price sucks, that’s not a very free market response.
Posted on 9/22/26 at 5:06 pm to TrueTiger
It’s America First as it gets albeit only temporary.
Posted on 9/22/26 at 5:18 pm to bigjoe1
If this happens, sounds like it's going to go against some cabinet members and definitely be more of an election cycle optics move
quote:
Trump's backing of a diesel export ?ban puts ?him at odds with his own energy officials, who warn it could raise fuel prices on the coasts and tighten supplies for European allies.
Energy Secretary Chris Wright told a Daily Caller event last week a ban would lead to a glut of diesel in the US Gulf Coast and prompt US refiners to cut production rates, which would quickly reduce gasoline production. "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," Wright said.
Doug Burgum, the US interior secretary, said ?that a ban would be unlikely to lower ?petroleum prices and could lead to retaliatory measures ?by energy exporting countries, which states like California rely on for some of their energy.
Posted on 9/22/26 at 5:24 pm to OldManRiver
quote:They don’t like fossil fuels anyway.
warn it could raise fuel prices on the coasts and tighten supplies for European allies.
Posted on 9/22/26 at 5:26 pm to bigjoe1
This is EXACTLY what we should do. We supply a significant amount of diesel and oil fuel products to Europe. Cut it off.
Use that to apply pressure on Zylinski and his EU globalist enablers....
Use that to apply pressure on Zylinski and his EU globalist enablers....
Posted on 9/22/26 at 5:30 pm to TrueTiger
quote:
While the price sucks, that’s not a very free market response.
I suppose, those types of judgments depend on ones perspective (which side you're on). Trump should use all available means to apply pressure on those globalist fricks in Europe.
They are doing EVERYTHING they can to impede what Trump is doing.
Making America Great Again.
Posted on 9/22/26 at 5:31 pm to bigjoe1
From an article that was shared in a thread about this idea on the OT:
And Chris Wright agrees:
quote:
09 21, 2026 by
BATON ROUGE — Louisiana Mid-Continent Oil and Gas Association President Tommy Faucheux today released a statement in response to Louisiana Governor Jeff Landry's request to the White House and Congress to issue a 90-day-ban on U.S. diesel exports.
“Pipelines for domestic diesel transportation are already at max capacity. Without available capacity to redirect supply, halting the export of American diesel would force refineries to reduce production which would also decrease the production of gasoline,” said Tommy Faucheux. “This is a misguided proposal that would cause more harm and increase, not decrease, costs for American families and businesses.”
And Chris Wright agrees:
Loading Twitter/X Embed...
If tweet fails to load, click here. Posted on 9/22/26 at 5:37 pm to LegendInMyMind
quote:
halting the export of American diesel would force refineries to reduce production which would also decrease the production of gasoline,” said Tommy Faucheux. “This is a misguided proposal that would cause more harm and increase, not decrease, costs for American families and businesses.”
Sounds like bullshite. Those greedy fricks are only interested in making more profits. They don't give 2 shits about average Americans.
Think about it, if we stop exporting diesel, it would increase availability of diesel in America which should lower prices in America.
ANYTHING in the pricing "system " that prevents this needs to be changed.
Please, explain why Im wrong
Posted on 9/22/26 at 5:37 pm to bigjoe1
Just wait until Turnaround season starts next Spring
Posted on 9/22/26 at 5:39 pm to bigjoe1
Utter leftist, anti-market insanity.
Doubling down on a bad decision by making another bad decision that will make things worse is mind-numbing.
Doubling down on a bad decision by making another bad decision that will make things worse is mind-numbing.
Posted on 9/22/26 at 5:41 pm to lake chuck fan
quote:
I suppose, those types of judgments depend on ones perspective (which side you're on).
No
Free market principles specifically do not depend on "what side you're on"
Posted on 9/22/26 at 5:41 pm to lake chuck fan
quote:
globalist
Damnit baw, you love that word
But
It doesn't mean what you think it means
Posted on 9/22/26 at 5:41 pm to bigjoe1
I like it. America First. The rest of the world didn't want to help with the problem, so they should bear the cost.
Posted on 9/22/26 at 5:41 pm to lake chuck fan
quote:
Please, explain why Im wrong
Watch the video in the tweet.
Posted on 9/22/26 at 5:42 pm to OchoDedos
quote:
Just wait until Turnaround season starts next Spring
Did they say "frick the fall season"?
Posted on 9/22/26 at 5:48 pm to lake chuck fan
quote:
if we stop exporting diesel, it would increase availability of diesel in America which should lower prices in America.
What about all the goods we import that will skyrocket? What impact will that have in prices in America?
Posted on 9/22/26 at 5:54 pm to TrueTiger
Running oil costs by speculators on world events certainly isn’t free market.
Making the entire world share the burden of Zelensky taking orders from the EU just seems backwards.
But I would imagine since Saudia told the EU their oil was cutoff they got the message
Making the entire world share the burden of Zelensky taking orders from the EU just seems backwards.
But I would imagine since Saudia told the EU their oil was cutoff they got the message
Posted on 9/22/26 at 5:54 pm to LegendInMyMind
quote:
Watch the video in the tweet.
One of the reasons he states is we import more gasoline than we make.
Well guess what State imports the vast majority of foreign gasoline?
CALIFORNIA that wages war on refineries.
So it’s California’s fault that we shouldn’t ban diesel exports.
Also, can’t we just ban diesel exports partly? Like anything over what the USA uses, you can export.
Posted on 9/22/26 at 5:56 pm to SlowFlowPro
quote:
What about all the goods we import that will skyrocket?
Skyrocket?
Hyperbole much?
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