Rapidan Energy CEO: Diesel export ban would provide only temporary relief

• The White House is 'very seriously' considering a diesel export ban as U.S. fuel prices soar, a move Scott Modell finds surprising but not entirely unexpected.
• Modell believes a diesel export ban would provide only temporary relief at best and could lead to higher prices for gasoline and jet fuel.
• The national average diesel price was $6.45 on September 28, significantly higher than $3.69 last year.
• Geopolitical tensions with Iran are expected to escalate, with no evidence that current economic pressure is fundamentally changing Iran's position, and the President rejected Iran's latest proposal to reopen the Strait of Hormuz.

The discussion centers on the U.S. President's consideration of a diesel export ban to combat soaring fuel prices. Rapidan Energy CEO Scott Modell believes such a ban would offer only temporary relief and could lead to higher prices for other fuels like gasoline and jet fuel. He also notes continued geopolitical tensions with Iran, expecting escalation rather than a quick resolution.