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Ryan Bridge: We need to keep an eye on diesel · Early Edition with Ryan Bridge

• 0:00
  Speaker 1: Trump's getting pretty desperate now to fix gas prices ahead
• 0:03
  Speaker 1: of the midterms, and usually when he's trying to do
• 0:05
  Speaker 1: something for America, there will be losers, and that could
• 0:08
  Speaker 1: well be the rest of us. That's how it normally works,
• 0:10
  Speaker 1: doesn't it? We spoke a few weeks ago about the
• 0:12
  Speaker 1: fact that he was looking into a ban on diesel exports.
• 0:16
  Speaker 1: Industry didn't like it there. They thought it wouldn't bring
• 0:19
  Speaker 1: prices down. They lobbied the White House, said the idea
• 0:22
  Speaker 1: is dumb, could actually push prices up. Well, Trump's now
• 0:25
  Speaker 1: had advice on this. He's also, after getting this advice,
• 0:29
  Speaker 1: shoulder-tapped some allies, including the Brits, to let them know
• 0:33
  Speaker 1: what might be about to happen. So we don't know
• 0:36
  Speaker 1: exactly what that is yet, but the Brits are worried
• 0:38
  Speaker 1: enough to hold meetings with the Europeans. Unlike New Zealand,
• 0:41
  Speaker 1: the UK still refines fuel, but it doesn't refine enough
• 0:45
  Speaker 1: diesel to meet its domestic demand, so it imports it.
• 0:48
  Speaker 1: In the past three months, about a quarter of their
• 0:51
  Speaker 1: imports came from the US, and much more came via
• 0:55
  Speaker 1: third parties who in turn source it from America. You
• 0:58
  Speaker 1: can see the problem here. If supply gets cut, gets tight,
• 1:02
  Speaker 1: we would be screwed on price down here at the
• 1:04
  Speaker 1: bottom of the world too. We, along with Asia, the Aussies,
• 1:07
  Speaker 1: could see shortages. Even a partial ban or a cap
• 1:11
  Speaker 1: could push prices way higher than the $ 3. 18, the average
• 1:15
  Speaker 1: right now for diesel at the pump across New Zealand.
• 1:18
  Speaker 1: That'll have a big impact on prices, on transport, on farms.
• 1:21
  Speaker 1: You can bet your bottom dollar. So here's hoping, for
• 1:24
  Speaker 1: our sake, America doesn't come first. Just another reminder, and
• 1:29
  Speaker 1: one that we should all be aware of as we
• 1:31
  Speaker 1: head into a voting election campaign, which should all be
• 1:37
  Speaker 1: aware of the potential costs, the pitfalls, the dangers out
• 1:41
  Speaker 1: there in the rest of the world that could harm
• 1:43
  Speaker 1: us and affect our balance sheet. For more from Early
• 1:46
  Speaker 1: Edition with Ryan Bridge, listen live to News Talk ZB
• 1:50
  Speaker 1: from 5 a.m. weekdays or follow the podcast on iHeartRadio.