Jake Hanley Calls U.S. Diesel Export Ban "Really Bad Idea" Amid Record Pricing

• A U.S. diesel export ban would lead to higher consumer prices for diesel, gasoline, and jet fuel, not lower.
• The U.S. produces an excess of 1.7 million barrels/day of diesel, which its infrastructure is built to export, not efficiently distribute domestically.
• A ban would cause diesel to pile up at ports, leading refineries to cut production, which in turn reduces output of gasoline and jet fuel.
• The real cause of high diesel prices is a global refining shortage, with roughly 5 million barrels a day of capacity knocked offline by conflicts in Iran and Ukraine.

Jake Hanley argues that a U.S. diesel export ban is a 'really bad idea' that would lead to higher, not lower, consumer fuel prices. He explains that the U.S. infrastructure is designed for exporting excess diesel, and a ban would cause supply backups, forcing refineries to cut production of diesel, gasoline, and jet fuel, thereby accelerating inflation.