All posts tagged "Diesel Exports"

President Donald Trump on Friday abruptly backed away from a controversial plan to ban U.S. diesel exports that had been floated as a way to drive down fuel prices ahead of the midterm elections.

“We’re not going to be doing the export ban,” Trump told reporters outside the White House before departing for a campaign stop in Oklahoma.

Trump had publicly backed banning U.S. diesel exports just last week as his administration weighed the move amid high fuel prices ahead of the midterm elections....

A European energy official ripped dealing with the Trump administration as a waste of time while the White House weighs capping diesel exports.

Politico reported Saturday that the White House is considering curbs on diesel shipments overseas, with options ranging from a full 90-day ban to gradual limits, as prices in the U.S. have climbed from $3.74 to $6.52 a gallon over the past year. The oil and gas industry has fiercely resisted the idea, warning it could hurt American producers in foreign markets.

The official, who represents an Eastern European government and spoke on the condition of anonymity to describe internal discussions, pointed to that industry pushback as proof of how little sway foreign governments hold with the administration....

An energy adviser for President Donald Trump slammed a White House plan to halt diesel exports for 90 days as midterm pressure mounts.

According to a Wednesday article by Politico, the Trump administration is moving toward a temporary ban despite divisions within its own ranks and opposition from fuel producers. Five anonymous insiders told Politico about the discussions and internal division.

The plan would mark the first limit on U.S. energy exports since the Obama administration ended a decades-long prohibition on oil exports in 2015. ...

An economist warned that President Donald Trump is aiming the same weapon the U.S. used against Iran at America's own economy.

University of Michigan economist Justin Wolfers, founder of the Platypus Economics newsletter and podcast, sounded the alarm during a Wednesday episode of "The Trump Report" with host Maddie Hale. The pair were discussing Trump's claim that he is open to banning diesel exports as U.S. diesel prices hit record highs.

Wolfers pointed out that the Trump administration had waged what he called an "economic D-Day" against Tehran by choking off its energy sales....