In Houston on Monday, the Interior Secretary, Doug Burgum - the head of the president's National Energy Dominance Council - took a question about whether the administration might restrict exports of diesel, gasoline or crude. While attending a Group of 20 energy gathering in a peripheral capacity, he contended that blocking exports would not bring down pump prices.
With retail diesel setting a record north of $6 a gallon and gasoline running above $4, talk has swirled that the Trump administration could look at export curbs to quiet political alarm weeks before key midterm elections. Industry analysts and market watchers are split on whether any such move would actually deliver lasting relief for consumers.
Burgum said he and Energy Secretary Chris Wright have been pressing the case against the wisdom of imposing limits. "We would consider an export ban if we thought that it might actually lower prices, but that's not the case," he said.
Short-term headlines may worry people, but steady strategies protect and grow savings. Join Briefs Finance CEO Jaspreet Singh on September 29th for a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, where he shows how we're spotting investment opportunities as the dollar falls. Save your spot.
Burgum said every option remains available, but drew a clear line on the threshold: a ban would be weighed only "if there was a direct correlation between stopping exports and lowering prices at home."
When energy stories dominate the news, patient planning keeps your money working. Our CEO Jaspreet Singh is hosting a FREE live investor workshop, How to Profit From A Dollar That's Losing its Value, on September 29th. Sign up free to join him live.
