Summary:
- New Politico Report Suggests White House Preparing For Diesel Export Ban
- "Definitely Doesn't Work": U.S. Energy Sec Rejects Diesel Export Ban, Risks Creating Bigger Supply-Squeeze Later
Politico Reports White House Prepares Plan For 90-Day Diesel Exports Ban
Diesel is certainly top of mind in the White House as a global refining crisis has sent prices at the pump for the industrial fuel to record-high levels, so high that Apollo's chief economist, Torsten Slok, warned earlier that it could spark a core inflation shock.
Policy maneuvering by the White House is limited, and what has been floated by Trump and some top Republicans is a diesel export ban, while top desks on Wall Street have warned that it's a terrible idea and could exacerbate prices around the world.
Earlier, U.S. Energy Secretary Chris Wright was at odds with Trump's call for a diesel export ban; Wright said, "The blunt tool of banning diesel exports definitely doesn't work."
Around lunchtime in New York, a new Politico report said the White House was preparing a potential 90-day ban on die
