Energy Crisis – In three weeks, US diesel stocks will run out

In three weeks, US diesel stocks will be empty. And this at a time when demand for diesel in the United States is historically high, particularly in the transportation, agricultural and industrial sectors.

Diesel is used not only for trucks, tractors and generators, but also for heating buildings. The diesel shortage is giving US President Biden a major headache. Not only because winter is coming, but also because November 8th is the so-called intermediate exams Midterm elections in which the Democratic Party must pull out all the stops to fend off the Republicans.

The US has three weeks’ worth of diesel left

Brian Deese, director of the National Economic Council, told Bloomberg TV that US diesel reserves are at an unacceptably low level. According to the Energy Information Administration, the US has three weeks’ worth of diesel left. Only in 2008 was the situation this bad. Weekly diesel demand hasn’t been this high in two years.

US diesel price is much lower than in Europe

Diesel is currently priced at $5.32 per gallon. Americans, of course, complain about this, because this amount is 50 percent higher than a year ago. Europeans will probably have a laugh because $5.32 a gallon is $1.41 a liter. At the time of writing, you pay an average of 2.26 euros for a liter of diesel in the Netherlands.

The war in Ukraine is causing a global energy crisis

Why are US diesel reserves so low? Because a number of major refineries are shut down for maintenance and the war in Ukraine is only worsening a global energy crisis. According to Bloomberg, the US is getting some breathing room. Some diesel tankers bound for Europe were diverted to New York.