On Monday’s broadcast of the Fox Business Network’s “Varney & Co.,” former Trump Economic Adviser Stephen Moore stated that a diesel export ban is a bad idea, but temporarily axing ethanol requirements would lower refining costs and reduce the price at the pump.
After mentioning a diesel export ban, host Stuart Varney asked, “Do you think that would help?”
Moore answered, “No, that’s a bad idea. In fact, we had something on our hotline today that even the Biden administration people — who are hardly free marketeers — did a big analysis of that, and they found that it would not lower prices, it would actually hurt our oil and gas industry. What I would like to see, … we could lower the price of gasoline at the pump, Stuart, by about 30-35 cents a gallon…if they would get rid of these renewable requirements, the ethanol requirements, for now, temporarily, that would make refining less costly, that would be passed onto consumers.”
Moore also called for states to lower their state gas taxes and said that old policies can be reinstated once the price gets lower.
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