Trump’s energy chief asked Europe to release more than a third of its diesel reserves – POLITICO

That would represent well over a third of the approximately 315 million barrels of diesel that EU countries held in reserve as of June this year, according to Eurostat figures. Among EU countries, Germany, France, Italy, Spain and Poland hold the largest reserves of essential transport fuel.

POLITICO reported Tuesday that the White House had floated the idea of ​​asking the EU to use its diesel reserves to bolster global supplies and thus lower prices. A German government official confirmed Thursday that the United States had contacted Berlin about the matter.

Several countries in Europe have been approached for a coordinated release, according to a person familiar with the Trump administration’s plans. A major EU member was approached bilaterally in the United States last week, according to a senior European energy official.

“It was very hypothetical: ‘What do you think about the possibility of Europe releasing some of its reserves in order to lower prices and put pressure on supplies?'” the official said. “’It could also help our government not to continue the discussion on the export ban.’”

Wright, like the U.S. oil and gas industry, opposes an export ban on one of the world’s most sought-after petroleum products, and the proposal is seen as an attempt to find an alternative to such a drastic measure.

At a news conference Thursday, Commission spokeswoman Anna-Kaisa Itkonen did not confirm whether the EU had received Wright’s request, but said any stock releases would only be approved through the International Energy Agency, a Paris-based institution that coordinates rich countries’ energy policy and oversaw a stock release earlier this year. She added that the Commission was in close contact with EU member countries and Washington.