Prices in the U.S. are rising so fast that industry officials are bracing for potential intervention from the White House or Congress, which has few tools left to confront the spiraling costs. One of the remaining options would be an export ban on diesel, which could create chaos in global markets and not necessarily lower prices in the U.S., as domestic refineries are already running at capacity.
Senate Majority Leader John Thune (R-South Dakota) told reporters Tuesday that he is open to considering it. “We’ll be looking at any proposal that is a viable solution, but I do think if we have the supply in this country and we’re exporting it right now that might be one way of getting at it,” he said in response to a question, according to a report in Bloomberg News. “If that would take pressure off of prices, you know, I’m open to exploring it.”
If the US bans exports I think Europeans are going to be rethinking their commitment to Ukraine.
It’s really incredible to me how the Europeans managed to end up in a position where they’re pretty much entirely dependent on American energy exports now.
If the US bans exports I think Europeans are going to be rethinking their commitment to Ukraine.
It’s really incredible to me how the Europeans managed to end up in a position where they’re pretty much entirely dependent on American energy exports now.