This would make things monumentally worse. Refineries would be forced to slow down production. You can’t just store Diesel. You also make gas right along side it and that would have to slow down as well. Other products would also be impacted.
Then what do you do about areas that are reliant on imports vs. local production? While you would see temporary relief in some areas others would suffer.
Then you have the risk of more retaliation across other sectors. This would be a bad, bad thing.
100% correct. There would be an initial drop, as a temporary glut develops
Refiners would cut runs (which would also immediately increase gasoline prices). The world price would then spike, and clever traders and producers would then start diverting cargos elsewhere.
It would also screw up all oil companies finances and oil hedge-books in the medium to long term.
Trump is favoring consumers over producers to win an election. That’s what socialists do. What’s next — restricting an export, or price control, every time its price rises due to developments abroad?
As in everything at this juncture, he’s between a rock and a hard place.I just put in order at Walmart.com that should have free shipping. Everyday items. 9 of 10 are “unavailable.”
No. Diesel can be stored 6 months to one year. Up to 2 years if treated right.
Google AI.
I have to wonder who is advising Trump in this matter.
. You can’t just store Diesel.
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The plans for a Data Center near me wanted about 300,000 gallons of diesel storage, to run the backup generators if the grid couldn’t handle it.