Oil price threat looms! White House reportedly considering extending century-old 'Jones Act' exemption | Liberty Times (TW) | 01KXM5CB398DDFWHQHSN1XG2DA

The White House is reportedly exploring an extension of waivers for the Jones Act, a century-old U.S. maritime law, as a measure to combat escalating oil prices and navigate geopolitical instability in the Middle East. The potential move signals an effort to find a compromise that could lower fuel costs for Americans while simultaneously reassuring domestic industries.

The Jones Act, officially known as the Merchant Marine Act of 1920, mandates that goods transported between U.S. ports must be carried on vessels that are U.S.-built, U.S.-owned, U.S.-crewed, and U.S.-flagged. This law is intended to support the American shipbuilding and maritime industries.

Sources indicate that the Trump administration has convened inter-agency meetings involving the Department of Energy, Department of Transportation, and Department of the Interior to discuss this matter. The discussions are centered around a potential interim final rule that could grant exemptions from the Jones Act's requirements, particularly for the transport of oil and gas products. This consideration comes as international oil prices have surged back above $80 per barrel, adding pressure on the administration to provide relief to consumers.