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As inventories run dry and the Iran war continues to disrupt transit routes, oil has surged back to more than $100 per barrel. Diesel fuel—the workhorse of the agricultural and trucking sectors—has now soared to historic highs, pushing U.S. exports to record levels. With the U.S. midterm elections approaching, Republicans in farm states such as Iowa and Nebraska are demanding relief.

In response, U.S. President Donald Trump has endorsed a flawed idea from the 1970s: banning exports. Keeping energy at home to lower prices may seem like common sense, but in reality, this would backfire. If enacted, a diesel export ban would eventually lead to higher prices, discourage investment in supply over time, and undermine the administration’s energy dominance agenda.

As inventories run dry and the Iran war continues to disrupt transit routes, oil has surged back to more than $100 per barrel. Diesel fuel—the workhorse of the agricultural and trucking sectors—has now soared to historic highs, pushing U.S. exports to record levels. With the U.S. midterm elections approaching, Republicans in farm states such as Iowa and Nebraska are demanding relief.

In response, U.S. President Donald Trump has endorsed a flawed idea from the 1970s: banning exports. Keeping energy at home to lower prices may seem like common sense, but in reality, this would backfire. If enacted, a diesel export ban would eventually lead to higher prices, discourage investment in supply over time, and undermine the administration’s energy dominance........

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