UPDATED 2:09 PM PT – Wednesday, October 26, 2022
America is facing a dwindling supply of diesel fuel, which may paralyze most of its transportation infrastructure.
According to the Energy Information Administration (EIA), the United States only has 25-days of diesel stockpiles left, which is the lowest inventory since 2008.
Meanwhile, the prices of diesel have been surging over the past few months. The Biden administration has exported 10-million barrels of oil each day both to Europe and Asia.
White House Advisor Brian Deese made it known that officials are trying to replenish the diesel stockpile.
“And we are operating right now at unacceptably low inventory levels,” Deese said. “Inventory levels for diesel, that for example are 50-60% lower than their five-year historical average. So, this is a conversation that we have had with the industry constantly and we’ve been very clear. We need to see more progress in building those inventories.”
Deese said that the Biden administration may tap into the Northeast Home Heating Oil Reserve, which is diesel, to temporarily increase the supply.