MOSCOW, 5 Oct – PRIME. Representatives of the White House asked the US Department of Energy to study the possible consequences of a ban on the export of petroleum products, Bloomberg reported, citing sources.
As specified, this happened after a tense meeting between the administration and the heads of oil companies, which took place due to growing concerns about rising gasoline prices.
At the same time, the Ministry of Energy regularly and in detail analyzes economic aspects and evaluates all available funds, but does it on its own, and not at the request of other parties, the source said.
According to the agency, if the US imposes a ban on the export of gasoline, diesel and other petroleum products, this will be the most radical step the Biden administration has taken to combat fuel prices. Producers and experts oppose such a move as it could backfire and push prices even further, adding to the cost to American consumers. In addition, such a measure threatens to undermine the markets and “cut off” European allies in difficult times.
“Banning or restricting the export of petroleum products is likely to reduce inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices, and alienate U.S. wartime allies,” said the letter from the head of the American Petroleum Institute and the Association of American Fuel Manufacturers and petrochemicals sent to Minister of Energy Jennifer Granholm.