Banning Diesel Exports: A Quick Fix That's a Recipe for Disaster
A proposed diesel export ban is gaining traction ahead of the US election, but experts warn it could have far-reaching consequences for American consumers and energy security.
The call to restrict diesel exports comes as global energy supply chains are under strain due to Russia's invasion of Ukraine and ongoing conflicts in the Middle East.
Texas oil and natural gas industry leaders argue that such a ban would be counterproductive, reducing domestic diesel production and exacerbating fuel price increases.
'A sudden prohibition on diesel exports sends a signal for refiners to reduce production,' said Todd Staples, president of the Texas Oil & Gas Association. 'This would tighten domestic diesel supply and further impact prices.'
Diesel and gasoline are often produced together, so curtailing diesel production could also drive up gasoline prices.