Government Meddling in Energy Markets Leading to Higher Prices for Diesel Fuel: Joe Trotter on NTD News
Government regulations are driving energy prices higher.
Joe Trotter, ALEC Energy, Environment and Agriculture Task Force Director, was featured on NTD News explaining why diesel fuel prices continue to rise and how that is contributing to the nation’s crippling inflation.
With the rising cost of #Diesel fuel and its role in transportation, the cost of goods has also been impacted. @melina_wisecup is joined by Joe Trotter to break down the policies that are causing this. pic.twitter.com/MvOupSv7md
— Capitol Report_NTD (@capitolreport) January 21, 2023
Watch the full interview here.
Host: What is causing these elevated diesel prices?
Joe Trotter: Right now, we are not turning out as much gasoline and diesel as we had on the past. There’s still demand for it, and that demand has skyrocketed. So that’s the long-term implication of reason that we’re here. Now, there are a few other things going on as well. One of the things is the move to biofuels and biodiesel in particular, and some refineries instead of going completely offline, went ahead and changed the refining process to produce biofuels. The problem is that you only get about half as much biodiesel coming out of a provider at any given time than you do in traditional diesel. So, you’re seeing essentially less supply and increasing demand.