What am I missing ....... Diesel fuel -
Ok - he called it "massive amounts of OIL coming into our country - and its Diesel"
forget the fact that Oil is not Diesel or Gasoline until refined.... but forget that mis-speak....
300,000 metric tons , then 500,000 metric tons,... so i'm curious .... cause my Gas/Diesel station sells it by the gallon ,, not the metric ton - how much Diesel is that ???
300,000 Metric tons is : 94 million US gallons for the month of October.
The United States uses approximately 3 Billion, 813 Million gallons per month (123 million to 160 million gallons of diesel fuel per day)
so the 94 million gallons represents approx 2% of the months usage - About 15 hours of usage.
let's assume we are getting the Diesel for FREE - then it would drop the price directly by that 2% - the national average is $6.20 per gallon - so it will fall to $6.07 == now - I think truckers and others that use Diesel will take ANY reduction in price - I would not call that MASSIVE....
and remember this fact,,,, What country is the leading EXPORTER of Diesel fuel ?? you guessed it ! The United States..... not the Country of course - MAJOR OIL companies - Valero, Exxon, and Phillips leading the way..............
- Production & Consumption: U.S. refineries produce roughly 4.8 million to 5.3 million barrels of distillate/diesel fuel per day, while domestic consumption sits around 3.6 million to 4.1 million barrels daily. This daily surplus makes the U.S. the world's leading exporter of diesel, supplying about 20% of the barrels traded globally every day ...
- Why have we not bought Russian oil until now???
- the United States has not bought Russian diesel until now because of strict economic sanctions and a policy ban imposed after Russia invaded Ukraine in 2022, combined with recent Russian export restrictions. The primary reasons include:
- Ukraine War Sanctions: Following Russia's invasion of Ukraine, the U.S. and its allies slapped aggressive sanctions and import bans on Russian oil, gas, and petroleum products to cut off Moscow's war funding.
- Russian Export Bans: Ukrainian drone and missile strikes damaged several major Russian oil refineries, reducing Russia's diesel output by about 30% and prompting Moscow to ban diesel exports to protect its own domestic market.
- The Recent Policy Shift: The U.S. position changed when the Trump administration temporarily lifted sanctions—issuing a general license valid until April 2027—following a phone call with Vladimir Putin. This reversal is driven by urgent political pressure to lower record-high domestic fuel prices ahead of the midterm elections, intensified by a global supply crunch linked to the U.S. conflict with Iran.
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