Trump's second act is here already: Exhorting America's allies to buy 'America First' as U.S. storage bursts at the seams.

Yet, Trump might do well to first look at an antiquated law that places limits on shipping oil and gas to customers in the U.S.: The Merchant Marine Act of 1920.

The century-old law, colloquially known as the Jones Act or simply J.A., regulates maritime commerce in the United States in a way that could curtail the nation's efforts at energy independence.

Jones Act: The Drawbacks

JA demands that vessels undertaking shipments between two U.S. ports be U.S.-built, U.S.- owned and U.S.-manned. Even foreign steel used in repair work on a J.A. vessel should not exceed 10% of the vessel's original weight. However, that same requirement does not apply to shipments going from a U.S. port to a foreign port or vice versa, meaning any ship can make that trip.