WHAT THEY ARE SAYING: U.S. Diesel Export Ban Is a Bad Idea

Senior economist Ryan Young was cited by American Petroleum Institute regarding the consequences for a diesel export ban.

As API President and CEO Mike Sommers said yesterday, Americans are already feeling the impact of rising diesel costs driven by an unprecedented disruption to global refining capacity. Restricting U.S. diesel exports would only compound the problem by further straining refinery operations and fuel supplies.

Elected officials, economists and market analysts are raising similar concerns.

Ryan Young, Competitive Enterprise Institute: “There are no short-term fixes for high diesel prices. Export bans would politicize energy markets and invite retaliation while failing to solve the fundamental problem of scarcity.”

Read the full article at API.