Trump Extends Oil Waiver, Bypassing Jones Act

The Trump administration is set to extend a shipping waiver, allowing foreign tankers to transport oil and gas between US ports, bypassing the Jones Acts requirements for American-built and flagged ships. This move aims to alleviate supply shortages and price hikes caused by the Iran conflict disrupting global routes. The waiver, currently set to expire on May 17th, has already facilitated the movement of nine million barrels of US oil since March 18th. With inventories dwindling and July deliveries filling up, the waiver is crucial for places like Hawaii, heavily reliant on imported fuel. Critics argue that the Jones Act already inflates costs, and the waiver extension is expected to be announced as early as Friday. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/4750b55ecf740b7f