“President Trump\u2019s 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.<\/a><\/p>\n “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.”<\/p>\n 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.<\/p>\n 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.<\/p>\n 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.<\/p>\n The law can be waived in the \u201cinterest of national defense,\u201d the U.S. Maritime Administration notes, either through the Homeland Security or Defense Department.<\/p>\n 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.”<\/p>\n 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.<\/p>\n Click <\/i><\/b>here<\/a><\/i><\/b> to follow the Mirror US on Google News to stay up to date with all the latest news, sports and entertainment stories<\/i><\/b><\/p>\n 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. <\/p>\n 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.<\/p>\n It comes as the <\/span>daughter of Trump’s doctor made a bombshell claim about his alarming health<\/u><\/a>.<\/span><\/p>\n <\/span><\/p>\n DAILY NEWSLETTER: <\/b>Sign up here<\/a> to get the latest news and updates from the Mirror US straight to your inbox with our FREE newsletter.<\/p>\n<\/div>\n<\/div>\n <\/p>\n <\/a><\/strong> <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" … the 100-year-old shipping<\/span> act ( Image: Andrew Harnik, … aims to protect the American shipping<\/span> sector \u00e2\u0080\u0094 but it\u00e2\u0080\u0099s … an attempt to revive American shipping<\/span> following the devastation of American … ships transporting passengers and cargo<\/span> between U.S. ports …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-127119","post","type-post","status-publish","format-standard","hentry","category-news","wpcat-1-id"],"_links":{"self":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/127119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/comments?post=127119"}],"version-history":[{"count":0,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/posts\/127119\/revisions"}],"wp:attachment":[{"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/media?parent=127119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/categories?post=127119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new7.shop\/zerocostfreehost\/index.php\/wp-json\/wp\/v2\/tags?post=127119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\n<\/figcaption><\/div>\nWhat is the Jones Act?<\/h3>\n
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\n<\/figcaption><\/div>\nWill it help?<\/h3>\n
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