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Trump to push US officials to use Defense Production Act to raise oil, fuel output, three sources say
Reuters • • business
Key Points:
- President Donald Trump plans to issue a directive to some of his department heads aimed at controlling diesel fuel prices, which are near record highs ahead of the November 3 congressional elections.
- The directive may take the form of a presidential memo instructing officials to find ways to bypass local and state regulations that hinder energy production.
- The administration intends to use the Cold War-era Defense Production Act to boost oil and fuel output in an effort to lower prices before the elections.
