The Hidden Tradeoffs of a U.S. Diesel Export Ban

With diesel prices at record highs, restricting U.S. diesel exports has an obvious appeal. Keep more American-made diesel at home, increase domestic supply, and take some pressure off farmers, truckers, construction companies, and ultimately consumers. President Donald Trump endorsed the idea this week, saying, “I’ve said let’s not send out the diesel.” The administration is now examining possible restrictions as farm-state lawmakers respond to soaring fuel costs. The United States is the world’s largest diesel exporter,…