Is it finally time to put the Jones Act of 1920 to rest?

The Jones Act, enacted in 1920 in the aftermath of World War I when the United States faced a surplus of coastal shipping capacity, was misguided when Congress passed it 105 years ago and is even more outdated today. At a time when Iran is laying mines in the Strait of Hormuz in an effort to disrupt global oil and gas supplies, the law is also limiting the ability of U.S. energy producers to respond to domestic demand and help stabilize oil and natural gas prices in New England, the West Coast, and other regional markets. Vincent Smith, Nonresident Senior Fellow and Director of Agricultural Policy Studies at the American Enterprise Institute, joins Newell to discuss if the Jones Act should be done away with.