Why doesn't he ban exports right away, forcing Europe to use their stockpiles anyways?
Is it that he can't? So the entire threat is moot?
Is he thinking of using the Graham bill to threaten +100% tarrifs for buying Russian gas?
Why doesn't he ban exports right away, forcing Europe to use their stockpiles anyways?
Is it that he can't? So the entire threat is moot?
Is he thinking of using the Graham bill to threaten +100% tarrifs for buying Russian gas?
This is why he hasn't done it yet. Everybody in the US with money at stake called him and told him it was a stupid idea.
Which areas are you referring to?
Because big oil doesn't like that.
And as others said, diesel is just one product. If you want to keep producing the other products you'll have to sell or store that diesel. The capacity is too much for the US alone and storing all excess capacity isn't feasible. So if he does it, there will be a surplus which means big oil will lose a large amount of money.
There is a lot more to it, but its too complicated to explain in a post.
This takes any weight out of your argument, because it’s demonstrably false. I live in Michigan, and diesel was between 6.50 and 6.99 a gallon a couple days ago, which is a bit lower than it had been the week before.
A zillion gas price sites would also show that this statement is false. It is not just “the west coast”.
But this is based on my simplistic understanding of how this works, I'm really not sure about the details.