Article Image

News Link • Oil

Trump temporarily suspends Jones Act as energy prices soar: Report

• Freightwaves

After the war in Iran sent gas and diesel prices soaring, President Donald Trump has temporarily waived the Jones Act, allowing foreign ships to carry crude oil and gas between U.S. ports.

The move suspends the controversial law meant to protect U.S. domestic maritime interests for 60 days as a way to bring down prices at the pump, and secure supplies for military and national security operations.

The waiver was announced by White House Press Secretary Karoline Leavitt early Wednesday. "The Administration remains committed to continuing to strengthen our critical supply chains," she said in a statement first reported by Bloomberg.

Dating to 1920, the Jones Act was designed to protect U.S. shipbuilding, stipulating cargo carried between American ports transit on U.S.-flagged, -built and -owned ships. The waiver covers coal, crude oil, refined petroleum products, natural gas, natural gas liquids, and fertilizer, according to Bloomberg, citing White House officials who requested anonymity.


Home Grown Food