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Trump’s plan to ban diesel exports aggravates Europe and Latin America’s energy crisis 

The United States and its energy industry are making a killing selling crude oil and its derivatives to the rest of the world. The world’s largest economy is filling part of the gap left by supply cuts from Gulf countries due to the war in Iran, and from Russia due to Ukrainian attacks on its refineries. But everything has its limits, and the breaking point was reached on Tuesday, September 22, when diesel surpassed $6.50 a gallon at U.S. pumps.

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© Mark Felix (Bloomberg)

Aerial view of a refinery in Houston, Texas, in March 2025.
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