BlockBeats News, March 18th, the Trump administration temporarily waived a century-old shipping mandate, the Jones Act, to lower the transportation costs of oil, natural gas, and other commodities within the United States. This is the latest move to address the energy price surge triggered by the Iran conflict. Authorized vessels flying foreign flags will be able to transport a range of goods between U.S. ports in the next 60 days.
According to White House officials, these products include coal, crude oil, refined petroleum products, natural gas, natural gas liquids, fertilizers, any product primarily derived from refined petroleum, and other energy derivatives. However, some analysts believe that given the scale of the supply chain disruption, this waiver is expected to have only a limited impact. (FX678)
