Trump invokes Cold War-era Defense Production Act for oil production, refining

USO•2026-10-22

President Donald Trump determined petroleum production, refining and related activities are essential to national defense. He invoked the Defense Production Act, allowing financial incentives for those activities, pipelines and energy storage.

1. Defense production law

Trump determined on Thursday that petroleum production, refining and related activities are essential to national defense. He invoked the Defense Production Act, allowing him to provide financial incentives for those activities, as well as pipelines and energy storage.

Trump invokes Cold War-era Defense Production Act for oil production, refining

1. Defense production law

Related News

Murphy USA raises quarterly dividend 11% to $0.72 a share

Cosmos Health expands e-commerce and subscription business to Oceania

S&P 500 and Nasdaq end sharply lower as revived AI doubts ignite tech selloff

MindWalk Chief Business Officer Thomas Lynch departs

Customers Bancorp narrows 2026 net interest income outlook to $805 million-$810 million