Energy & Environment
|
Energy & Environment
|
|
|
|
Jones Act waiver extended
in bid to lower fuel prices |
The Trump administration announced on Friday it was issuing a 90-day extension to its waiver of the Jones Act, which requires shipping between U.S. ports to be conducted by American ships, in an effort to lower fuel prices.
|
© AP Photo/Mark Schiefelbein
|
“New data compiled since the initial waiver was issued revealed that significantly more supply was able to reach U.S. ports faster,” White House assistant press secretary Taylor Rogers said in a post on social platform X.
The move comes as fuel prices have spiked amid the Iran war and the closure of the Strait of Hormuz, which normally sees roughly 20 percent of the world’s oil passing through it.
Brent crude, the global oil benchmark, was up to $105 per barrel on Friday, while West Texas Intermediate, the U.S. benchmark, sat at $95. The national average for gas prices was at $4 per gallon on Friday, according to AAA.
The administration’s original move to waive the law’s requirement was expected to generate modest savings for drivers at the pump by allowing gasoline to be shipped more cheaply. The extension is likely to keep those savings in place.
In 2022, JPMorgan projected that a Jones Act waiver could save East Coast drivers about 10 cents per gallon.
Read more here, from The Hill's Julia Manchester.
|
Welcome to The Hill’s Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
|
|
|
|
How policy will affect the energy and environment sectors now and in the future:
|
|
|
|
Maine Gov. Janet Mills (D) announced Friday she has vetoed legislation that would have banned the development of large-scale data centers in the state for the next year-and-a-half, issuing a blow to the local anti-data center push growing across America.
|
|
|
|
|
The Treasury Department on Friday announced new sanctions on a Chinese oil refinery and dozens of shipping firms and vessels, including those with ties to Hong Kong, in a bid to disrupt Iran’s oil exports.
|
|
|
|
|
A majority of Americans believe President Trump is to blame for a surge in gas prices, as the conflict with Iran continues to strain the global economy, according to a new survey.
|
|
|
|
|
News we've flagged from other outlets touching on energy issues, the environment and other topics:
|
|
|
|
Upcoming news themes and events we're watching:
|
Next week
- The House may vote on its iteration of the farm bill
Monday
Tuesday
Wednesday
Thursday
- Forest Service Chief Tom Schultz is expected to appear before the Senate Appropriations Committee
|
|
|
|
Two key stories on The Hill right now:
|
|
|
|
A bipartisan group of Senators on Tuesday introduced the Hot Rotisserie Chicken Act to help Supplemental Nutrition Assistance Program (SNAP) recipients use their benefits to buy rotisserie chicken. Read more
|
|
|
The United Kingdom on Friday insisted on British sovereignty over the Falkland Islands after Reuters published a report stating that President Trump is mulling over reprisals toward NATO allies for not supporting the U.S. military offensive in Iran. Read more
|
|
|
|
|
You're all caught up. See you Monday!
|
400 N Capitol Street NW Suite 650, Washington, DC 20001
|
Copyright © 1998 - 2026 Nexstar Media Inc. | All Rights Reserved.
|
|
|
|
|
If you believe this has been sent to you in error, please safely unsubscribe.
No comments:
Post a Comment