President Donald Trump announced on Thursday that he intends to use the Defense Production Act to bolster domestic oil refining capabilities in the hope of putting downward pressure on record-high diesel and gasoline prices.
Trump told a crowd of supporters at a Sioux City, Iowa, campaign rally that he would be invoking the wartime production statute that allows the president to direct domestic industries to prioritize and expand U.S. oil refinery operations to increase the supply of gasoline and diesel.
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