Santeri Viinamäki
The Trump administration is developing a strategy for a 90-day prohibition on diesel exports—amid internal conflicts and resistance from the oil sector—in an effort to reduce energy costs that are burdening Republicans before the midterm elections," the newspaper states.
The report mentions that the legal specifics of the prohibition are still under development.
However, sources indicate that US President Donald Trump might reveal the measure by the end of this week.
This would represent the initial limitation on energy exports since President Barack Obama removed the long-standing ban on crude oil exports in 2015.As reported by Politico, oil industry representatives are against the 90-day ban, cautioning that any immediate benefits would be surpassed by increased fuel prices in the future. Energy Secretary Chris Wright, Treasury Secretary Scott Bessent, and Interior Secretary Doug Burgum are also against the proposal.
source: politico.com
The report mentions that the legal specifics of the prohibition are still under development.
However, sources indicate that US President Donald Trump might reveal the measure by the end of this week.
This would represent the initial limitation on energy exports since President Barack Obama removed the long-standing ban on crude oil exports in 2015.As reported by Politico, oil industry representatives are against the 90-day ban, cautioning that any immediate benefits would be surpassed by increased fuel prices in the future. Energy Secretary Chris Wright, Treasury Secretary Scott Bessent, and Interior Secretary Doug Burgum are also against the proposal.
source: politico.com