LOVING: Pause diesel exports
A 90-day diesel export pause would work. That's why the refiners hate it.
Last month Russia extended its ban on diesel exports to protect fuel supplies during harvest. Kansas is also having a harvest.
It is running on $6.35 diesel while 1.7 million barrels a day leave the Gulf Coast on tankers.
Washington should pause US diesel exports for 90 days and waive the Jones Act for the duration. The oil industry says this will backfire.
The industry just reported the best quarter in its history. Those two facts are related.
This column will cover why diesel is expensive, how the US market works, what a pause does, why this is not 1979, and why, if I were Trump, I'd do it now.