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Trump Could Use Jones Act to Control Oil Prices

Bloomberg Markets •
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The White House is considering invoking the Jones Act as a tool to influence oil prices. This maritime law requires that goods transported between U.S. ports be carried on American-built, owned, and crewed vessels. The administration is exploring whether this could help manage domestic energy costs amid market volatility.

President Trump has previously expressed frustration with high oil prices, which impact everything from consumer gasoline costs to industrial production. The Jones Act has long been controversial, with critics arguing it raises shipping costs by limiting competition. Energy companies have occasionally sought waivers during emergencies when foreign-flagged vessels could provide cheaper transport.

The potential use of the Jones Act represents a significant escalation in the administration's approach to energy policy. By leveraging this century-old law, the White House could directly affect how crude oil and refined products move between U.S. ports. This would mark a departure from previous administrations' more hands-off approach to energy markets, signaling a willingness to use regulatory tools to achieve economic objectives.