US extends shipping law waiver 90 days to allow freer movement of oil, commodities
USO•President Donald Trump extended a waiver of the Jones Act for 90 days, allowing foreign-flagged ships to transport oil and other commodities between US ports. Since the waiver began in March, an additional 90 million barrels of petroleum have moved between US ports, including 27 million barrels of gasoline and 26 million barrels of crude oil.
1. Waiver extended
A White House official said Trump extended the Jones Act waiver for 90 days. The extension keeps in place a case-by-case process for waiver decisions, introduced in August.
2. Shipments since March
The White House said an additional 90 million barrels of petroleum, mostly refined, have been shipped between US ports since the waiver was issued in March. The total includes 27 million barrels of gasoline, 26 million barrels of crude oil and 6 million barrels of renewable fuels.
3. Law and rationale
The Jones Act requires cargo moved between US ports to be carried on ships built in the United States, owned by US companies and crewed by American workers. The administration said the waiver aims to lower gas, diesel and fertilizer prices driven up by the war on Iran by increasing shipping flexibility and reducing transport bottlenecks.
