President Trump is considering waiving the Jones Act to speed up oil shipments as his administration works to bring down gas prices.
“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 flowing freely to US ports,” press secretary Karoline Leavitt said. “This action has not been finalized.”
The Jones Act, part of the Merchant Marine Act of 1920, is a federal law requiring goods transported by sea to be carried on US-owned and -crewed vessels. It has been waived during national emergencies, such as hurricanes.
The move comes as the price of oil surged briefly to over $100 a barrel on Thursday.
