US energy secretary rejects outright diesel exports ban, favors voluntary limits instead

Energy Secretary Chris Wright said Wednesday the Trump administration plans to steer clear of an outright ban on diesel exports and is opting for a voluntary cap, instead, as prices soar during wars abroad.He rejected a Politico report stating Trump aides were preparing a 90-day prohibition that could be announced within days.“We’re trying to avoid a blunt hammer of a government policy, understanding the complexity of refining,” Wright told the Wall Street Journal at a Wednesday event on the sidelines of the United Nations General Assembly.The energy secretary said the US still needs to help supply the global diesel market while finding a way to change the trajectory of prices at home.The planned restrictions would be voluntary, though Wright offered few details about how they would work.Politico reported Wednesday that the White House is nevertheless preparing an outright ban on diesel exports, citing five people familiar with the discussions.The legal process for such a ban was still being worked out, according to the report, which said President Trump was leaning to announcing the move by the end of the week despite opposition from some administration officials and oil-industry executives.The White House denied the report, with an official telling Politico: “This is another fake news news story from Politico.”The outlet reported that Wright, Treasury Secretary Scott Bessent and Interior Secretary Doug Burgum have all voiced internal objections to a total ban.Wright also made calls to energy CEOs Tuesday night telling them a 90-day ban was likely in the coming days, according to a Trump energy adviser cited by Politico, prompting some executives to contact the White House and urge it to reconsider.On Wednesday, Wright was even more emphatic about the risks of an outright prohibition.“The blunt tool of banning diesel exports definitely doesn’t work,” he said at an event hosted by the Economist in New York.Wright warned that blocking exports could le...