Panicking Donald Trump waives 100-year-old law shipping law in desperate bid to drop gas prices

Donald Trump issued a 60-day waiver of the Jones Act for oil and gas transportation in an attempt to lower prices.

The Jones Act requires that goods hauled between U.S. ports be moved on U.S.-flagged vessels. Passed in 1920, this law aims to protect the American shipping sector — but it’s also faced criticism over the years for slowing the delivery of goods, including critical aid during time of crisis. And it’s often blamed for making gas, in particular, more expensive.

“President Trump’s decision to issue a 60-day Jones Act waiver is just another step to mitigate the short-term disruptions to the oil market as the U.S. military continues meeting the objectives of Operation Epic Fury,” Press Secretary Karoline Leavitt announced in a Wednesday morning tweet. It comes after Melania’s comments about Barron’s mental state exposed why he can’t be drafted into the army.

“This action will allow vital resources like oil, natural gas, fertilizer, and coal to flow freely to U.S. ports for sixty days, and the Administration remains committed to continuing to strengthen our critical supply chains.”

This comes three weeks into the war with Iran, which has plagued the oil market and sent gas prices skyrocketing up to around $100 a barrel. The highest price so far came last week when crude oil reached $125 per barrel.

What is the Jones Act?

The formal name of the Jones Act is the Merchant Marine Act of 1920. Sen. Wesley Jones of Washington state supported the legislation, which Congress passed in an attempt to revive American shipping following the devastation of American merchant vessels by German U-boats during World War I.

The Jones Act, among other things, forbids foreign-flagged ships from engaging in this domestic trade by requiring that ships transporting passengers and cargo between U.S. ports be constructed in the country and controlled by Americans. Additionally, the ships must transport American crews.

The law can be waived in the “interest of national defense,” the U.S. Maritime Administration notes, either through the Homeland Security or Defense Department.

Will it help?

Given the magnitude of the supply chain shock, some analysts believe the waiver will only have a limited impact. The International Energy Agency described the conflict as “the largest supply disruption in the history of the global oil market.”

In an effort to combat the surge in fuel prices during the war, Trump has taken or suggested a variety of measures in recent days. A vital route for energy supplies, the Strait of Hormuz is effectively closed as a result of the fighting, obstructing about 15 million barrels of oil and causing unrest in the financial markets.

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By permitting less expensive foreign tankers to travel around the nation, temporarily removing the law’s limits could ease pressure on prices in the near future.

The action is expected to lower the cost of transporting gasoline and diesel products to populated markets in the US Northeast and petroleum from the Gulf to refiners on the US East Coast.

It comes as the daughter of Trump’s doctor made a bombshell claim about his alarming health.