Trump Waives the Jones Act for 60 Days. Foreign Tankers Can Now Move Oil Between U.S. Ports — But It Won't Fix What's Actually Broken.
Foreign-flagged tankers can now move oil between U.S. ports. The real problem — a Strait of Hormuz running at 3% of normal — remains untouched.
The Story
On Wednesday, the White House issued a 60-day waiver of the Jones Act — the 1920 Merchant Marine Act that requires all goods transported between U.S. ports to be carried on U.S.-built, U.S.-flagged, U.S.-owned, and primarily U.S.-crewed vessels. For the next two months, foreign-flagged tankers can carry crude oil, refined products, na…
