President Trump backed a diesel export ban this week and Treasury Secretary Scott Bessent said the administration is examining whether it is feasible. Yahoo Finance Breaking Business News Reporter Jake Conley explains why keeping diesel at home would not lower the price at the pump: US diesel reprices off a global market, refiners would simply make something else they can still export, and Russia has run this exact experiment since July without bringing its own prices down. Host Julie Hyman on the Jones Act waiver expiring November 15, and Senior Autos Reporter Pras Subramanian on the upstream effects.
Timestamps
0:00 Trump backs a diesel export ban
1:25 Why cutting exports doesn’t cut prices
1:45 What refiners would do instead
2:31 Russia already tried this
3:01 The Jones Act waiver expires November 15
4:00 Diesel hits a record at the pump
4:34 Good politics, bad economics
5:18 Farmers, truckers and the pass-through
5:51 Why this doesn’t end when the war does
#Diesel #DieselPrices #Inflation #Trump #YahooFinance
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