Christopher Guith writes in RealClearEnergy that policymakers should reform the Jones Act.
- Energy Secretary Granholm has sent letters to oil companies asking them to limit exports as the Northeast is expected to have a low supply of oil and gas.
- Rather than asking companies to limit exports, policymakers should reform the Jones Act which inflates the cost of key resources.
- More than a century old, the Jones Act requires shipments between U.S. ports to be done with American-built vessels that are manned by a majority American crew.
- By repealing the Jones Act and allowing the free market to flourish policymakers can help consumers access affordable and reliable energy.
“Waiving the Jones Act will make the Northeast an economically attractive destination for gasoline, diesel, and heating oil shipments that currently go to overseas buyers in Europe and Latin America. The end result will be higher inventories, lower prices, and more efficient markets.”
Read the full article here.
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