Prepare for diesel shortages as winter approaches
The federal government is being asked to intervene in the growing diesel shortage problem. With the cost of deliveries scheduled for November rising 33% and expected to continue to climb, the reserves haven’t been as low as they are today since 1951. Next year, the ban on Russian imports is likely to increase the competition for fuel in the country and there doesn’t seem to be any sign of stopping. The greatest declines are being recorded in the New York and New England regions.
To avoid further shortage issues, experts state that diesel should be imported from other countries are tankers out of the Gulf of Mexico. However, due to the Jones Act, this act is largely illegal. Jones Act waivers have already been issued to Puerto Rico after a hurricane swept over the island, but the Department of Homeland Security says they will only issue these waivers on a case-by-case basis. Until then - if ever - only a very small amount of U.S. owner-and-operated tankers are available for energy transport between U.S. ports.
U.K. Prime Minister Rishi Sunak has announced a delay in several key emissions-reduction targets, including pushing back the ban on the sale of new gasoline and diesel cars from 2030 to 2035.