Mike Sommers

A global supply problem, not a US surplus problem.

API President and CEO Mike Sommers framed it well.

The United States is not short of diesel because it exports too much.

The world is short of refined fuel.

But oil companies are likely to lose money if exports are banned, said the Journal.

The White House should not create new restrictions that risk making a difficult situation worse, said Mike Sommers of the American Petroleum Institute to the outlet.

Diesel is the most important fuel on the planet, given that it powers trucks, trains, tractors, and ships at the heart of the modern economy, said CNN.

Experts warn that while an export ban might be quite effective at lowering prices in the short term, it would also jack up gasoline prices, crush US refiners, and damage America's reputation as the reliable energy superpower over the long run.

Joining us now on Columbus Perspective to break down what's driving these energy prices and how global events can affect energy markets and what consumers can expect to see on energy prices.

This fall is Mike Sommers, who's the president and CEO of the American Petroleum Institute.

Good morning, sir.

Good morning, Jay.

All right.

We want to thank

Mike Sommers from the American Petroleum Institute for being our guest this morning.

And for Columbus Perspective, I'm Jay Fox.

Uh, I think it's a good time to examine how we got where we are and maybe some of the big questions you have in an FAQ form.

He is Mike Sommers, president and CEO of the American Petroleum Institute, one of the oil industry's top lobbyists, joins the show now.

Mike, welcome.

How are you?

Mm.

They're gonna get that back up within the next couple of days, and you will start to see some decreases at the pump as a consequence.

He is Mike Sommers.

He's, uh, president, CEO of the American Petroleum Institute.