US EditionWhite House considers waiving maritime commerce restrictions as fuel prices skyrocket
The White House considers a 30-day Jones Act waiver to allow foreign vessels to ease fuel supply disruptions and curb rising prices amid Middle East conflicts, with U.S. gasoline at $3.60, AAA said.
- On Thursday, the Trump administration announced plans to issue 30-day Jones Act waivers, allowing foreign tankers to transport fuel between U.S. ports to ease regional supply shortages, though White House press secretary Karoline Leavitt said the action has not been finalized.
- Rising gasoline prices, which hit $3.60 a gallon on Thursday, prompted the move as the effective closure of the Strait of Hormuz due to the ongoing war with Iran restricts nearly 20 million barrels of oil daily.
- Formally known as Section 27 of the Merchant Marine Act of 1920, the century-old law mandates that goods transported between U.S. ports utilize vessels that are American-built, American-owned, and American-crewed, limiting available tanker capacity.
- Analysts including Patrick De Haan of GasBuddy suggest the waiver will have a small but useful impact, potentially slowing price increases by around a nickel a gallon rather than reversing the broader upward trend.
- Beyond shipping adjustments, the administration has coordinated with the International Energy Agency to release 172 million barrels of oil from the Strategic Petroleum Reserve, part of a global injection of 400 million barrels into markets.
40 Articles
40 Articles
Trump Admin Weighs Allowing Foreign Ships to Transport US Crude to Domestic Refiners
The White House said the Trump administration is considering lifting restrictions on foreign-owned and crewed ships transporting goods between ports in the United States in an effort to boost domestic oil refining and put the brakes on skyrocketing fuel costs. “In the interest of national defense, the White House is considering waiving the Jones Act for a limited period of time to ensure vital energy products and agricultural necessities are flo…
Rising Oil Prices Prompt White House To Review Shipping Law
The Trump administration is considering temporarily waiving the Jones Act as fuel prices climb during the ongoing Iran war, reported by CBS News. White House spokeswoman Karoline Leavitt said the administration may suspend the century old shipping rule to ensure that energy supplies and agricultural goods continue flowing to U.S. ports. According to the statement, the decision has not yet been finalized. The Trump administration is prepared to w…
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