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Burgum: Export ban won't lower energy prices
Economy
U.S. Interior Secretary Doug Burgum stated on Monday that a ban on oil or fuel exports would not help lower energy prices for consumers in the event of a war with Iran.
Speaking to reporters at a G20 energy meeting in Houston, Burgum said the administration would consider an export ban only if it would actually lower prices—something he said would not happen.
The Interior Secretary, appointed by President Donald Trump, warned that bans on oil, gasoline, or diesel exports could trigger retaliatory measures from other countries. Such actions could harm consumers in states like California, which relies partly on energy imports.
"We stop exporting a product, and then someone says, 'We won't export to California,'" Burgum said.
Burgum also noted that California has already shut down several oil refineries, a move that has contributed to rising fuel prices in the state over the long term.
"California already has the highest gasoline and diesel prices in the country—due to the policies there. We wouldn't want to... make the situation worse," Burgum said.
The Trump administration has limited options for lowering diesel prices ahead of the November midterm elections, which will determine the makeup of Congress. Diesel prices recently hit a record high of over $6 per gallon, with prices in California even higher. Oil and gasoline prices also remain elevated.