Colin Grabow writes for the Cato Institute on how the Jones Act is harming domestic energy production.
- As American policymakers shut off access to Russian oil, outdated regulations will hamstring consumer access to domestic energy.
- The Jones Act, which requires that all goods (including oil) that are being shipped between two ports in the U.S. be transported on a U.S.-built boat that is manned by a crew that is at least 75% American, significantly increases transportation costs for domestic energy.
- If the lawmakers want to lower the price at the pump they should reform or ultimately repeal the Jones Act.
Read the full article here.