WHAT’S HAPPENING TODAY:
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WHAT → happen → ?
We’ve made it to the weekend after another busy week in D.C.
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We → make → D.C.
If you’re looking for something to do this weekend, Theater Week is officially underway, with dozens of shows across the DMV offering discounted tickets.
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dozens → look → tickets
In today’s newsletter, we take a look at Europe’s plea to President Donald Trump to forgo a ban on diesel exports, as the administration looks to curb high fuel prices ahead of the midterms.
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administration → take → midterms
If a friend sent this to you and you’d like to sign up, click here.
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you → send → you
If signing up doesn’t work, shoot us an email, and we’ll add you to our list.
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we → work → list
Senate Republicans are upping pressure on their Democratic colleagues to vote on a permitting reform bill before the chamber breaks next week, insisting that a delay to after the midterm elections will all but kill the legislation.
“Like so many other things, this project to diminish the delays is itself likely going to die on the vine because of this delay they’re insisting on,” Energy and Natural Resources Committee Chairman Sen. Mike Lee said last night of Democrats, who are punting a permitting vote to get more of their caucus on board.
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who → up → board
“If we wait until after the election, it is almost certainly not going to happen,” Lee warned.
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Lee → wait → election
EUROPE FACES A NEW FUEL THREAT FROM THE U.S.:
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EUROPE → face → U.S.
As the Trump administration weighs restrictions on diesel exports, Europe is lobbying against any such action, as it would disrupt fuel supply and drive up costs.
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it → weigh → costs
The European Union energy commissioner, Dan Jorgensen, asked President Donald Trump to maintain a “free flow” of diesel, especially as winter approaches.
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winter → ask → diesel
Jorgensen told the Financial Times that it is in the U.S.’s and Europe’s interests to “have as free flow of energy between our countries as possible.”
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it → tell → countries
He added that, even without a ban on U.S. diesel, Europe’s winter could be “very, very bad” for energy prices, even worse than in 2022.
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winter → add → 2022
Since the war in Iran, Europe has faced challenges filling its natural gas storage ahead of this year’s winter.
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Europe → face → winter
At the same time, Russia has also restricted its diesel exports.
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Russia → restrict → exports
A U.S. diesel ban would further tighten Europe’s already constrained fuel supply.
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ban → tighten → supply
North-West Europe would have to bid up to pull in replacement cargoes, and it would be bidding against the Mediterranean, Latin America and West Africa for the same limited pool of barrels,” Zameer Yusof, an energy analyst at market intelligence platform Kpler, told Euronews.
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Yusof → have → Euronews
Since Russia has restricted its diesel exports, Europe has been more reliant on the U.S. supply.
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Europe → restrict → supply
In August, Europe imported nearly 506,000 barrels a day of U.S. diesel.
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Europe → import → diesel
Prices in Europe have also risen in response to the president’s consideration of a ban.
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Prices → rise → ban
It was reported earlier this week that diesel prices at the pump across the European Union reached a new high of 2.23 euros per litre, which is up from 2.16 euros the previous week.
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which → report → euros
The administration has been weighing its options for a ban on exports.
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administration → weigh → exports
It was reported earlier this week that the White House is considering a 90-day ban on diesel exports in an effort to curb fuel prices ahead of the midterms.
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House → report → midterms
The European Commission yesterday warned that a 90-day ban on diesel exports “would risk negatively impacting both sides.”
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ban → warn → sides
However, the administration is divided over whether a ban is the right option.
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ban → divide → ?
Energy Secretary Chris Wright has argued that a ban would further push prices even higher.
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ban → argue → prices
He has also said that the administration would consider partial restrictions or a voluntary approach.
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administration → say → restrictions
Any restriction on diesel exports would be felt not only in Europe but by other major buyers, including Brazil, Chile, Mexico, Peru, and Morocco.
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restriction → feel → Brazil
The U.S. exported nearly 1.6 million barrels per day of diesel in August, up from about 1 million bpd before the war in Iran began.
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war → export → Iran
The American Petroleum Institute warned earlier this week that a diesel ban would “wreak havoc on fuel markets at home and abroad, destabilize refinery operations and deepen a global refining crisis already putting upward pressure on U.S. prices.”
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ban → warn → prices
Politico reported that the White House is weighing alternative options to imposing a diesel export ban.
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House → report → ban
One of the options the administration is considering is encouraging states to eliminate excise taxes on diesel.
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administration → consider → diesel
Sources told Politico that a policy decision could happen as soon as today or early next week.
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decision → tell → today
NOR’EASTER TO HIT THE EAST COAST:
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NOR’EASTER → hit → COAST
A nor’easter storm is set to hit the East Coast this weekend, bringing heavy rain, coastal flooding, and strong winds.
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storm → set → rain
The storm has already prompted coastal flooding alerts for those along the East Coast, affecting states from Virginia to Rhode Island.
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storm → prompt → Island
North Carolina’s Outer Banks have already recorded waves up to 19 feet, with flooding already occurring in the area.
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flooding → record → area
ABC News said waves up to 12 feet are possible for the Outer Banks to New Jersey shore through Saturday and along the New England coast through Sunday.
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waves → say → Sunday
The storm is expected to peak on Saturday, bringing heavy rain and strong winds from New Jersey to Massachusetts throughout the day.
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storm → expect → day
New York City can also see wind gusts from 40 to 50 mph from today to Sunday.
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City → see → Sunday
…and 35 more, not listed.
The Aporia
