Energy analysts spent much of the past week laying out all the reasons why a presidential ban on exports of diesel fuel is a no good, terrible, very bad idea. As the Institute for Energy Research detailed on Thursday, such a ban would not only fail to lower diesel pump prices for any appreciable amount of time, it would also inevitably result in higher gasoline prices and supply shortages as refiners are forced to cut back runs because they have no outlet for the diesel volumes currently being exported to the global market.

Late in the week, we saw the emergence of an alternative proposal from politicians and industry critics: A temporary ban of “only” 90 days. This, they claim, would have the benefit of helping Republican candidates in their mid-term election campaigns while also allowing refiners to see a clear light at the end of the tunnel.

As a siren song it all sounds lovely. But in the real world, it’s also nonsense.

Whether we like it or not, capital does not care if some........

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