00:00The European Union has hit out at a possible U.S. diesel export ban being considered by President Donald Trump's
00:07administration, calling it a bad idea that could damage both economies.
00:12We are engaging on the basis that we believe this is a bad idea and we will continue to do
00:20so.
00:21So, with your kind understanding, we're not going to get into further hypotheticals on this right now.
00:26We have this reported U.S. ban. We believe it potentially can have a negative impact on both sides.
00:39The comments come after Trump revealed that a ban is being studied, as he addressed reporters during a meeting with
00:45Volodymyr Zelensky on the sidelines of the U.N. General Assembly.
00:49Well, I've gone for that too. I've said, let's not send out a diesel. We make a lot of diesel.
00:55It could have a little bit of an effect on regular automobile gasoline because when you do that, you know,
01:01it's sort of a flow. It's a balance.
01:03But, no, I've called for it. I've called for it within my people. I've been talking about it.
01:08Scott, do you want to talk about that for a second?
01:09Yeah, we're examining that, whether it's feasible in terms of the overall refining capacity and whether a full or partial
01:20ban would work.
01:21Is there a timeline for a decision on that basis?
01:23Yes, one way or the other.
01:25The U.S. supplied roughly 50% of Europe's diesel in August, which has surged in price as the continent
01:31continues to grapple with inflated costs caused by Trump's war in Iran.
01:36Experts believe a partial or full ban would dramatically hike prices in the bloc, whose diesel already hit a record
01:42average of 2.23 euros per liter recently.
