The White House is studying the use of the Defense Production Act to expand US refining capabilities in response to global crude oil supply risks and high oil prices. The proposal was discussed at a meeting between Trump and nearly 12 American refineries, and a final decision has not yet been made. Refinery executives suggest that federal funds be used to improve the efficiency of existing refineries, which currently have a utilization rate of 98% in the United States. The national average diesel price in the United States has risen above $6 per gallon for the first time, while gasoline prices remain high. The White House is evaluating plans for regulatory reform, accelerated approval, and increased investment. (Source: Reuters)
