US oil groups urge Biden to withdraw fuel export ban – letter

Oct 4 (Reuters) – The biggest U.S. oil trading groups said on Tuesday they had “significant concerns” that the Biden administration is planning to limit fuel exports to lower consumer prices and urged senior officials to take that option off the table, according to a letter seen by Reuters.

The joint letter from the American Petroleum Institute and American Fuel and Petrochemical Manufactures to Energy Secretary Jennifer Granholm represents the latest clash between the oil industry and the Biden administration over responsibility for high oil prices. energy.

In August, Granholm sent a letter to refiners urging them to focus more on building domestic gasoline and diesel stocks and less on exports. She warned that if not, the administration should consider “emergency measures.”

On Friday, Granholm and senior White House officials repeated that warning in a hastily called virtual meeting. White House officials said the restrictions were not being considered “at this time”.

“Discussions with officials raise significant concerns that the administration may pursue a ban or limits on refined petroleum products as a means of building national stockpiles of gasoline and diesel,” the groups said.

Join now for FREE unlimited access to Reuters.com

Reporting by Jarrett Renshaw; Editing by Emelia Sithole-Matarise

Our standards: The Thomson Reuters Trust Principles.

Comments are closed.