President Donald Trump is preparing to institute a 90-day ban on diesel exports in a bid to bring down soaring prices — despite opposition from Energy Secretary Chris Wright and industry insiders, according to a new report.
The prohibition, which would be the first restriction on American energy exports in over a decade, could be announced in the coming days, Politico reported. The hope among administration officials is that, by redirecting diesel bound for Asia or Europe back into the U.S., it could provide relief at the pump ahead of the midterm elections. The White House described the story as “fake news.”
