Colin Grabow writes for the Cato Institute on how the Jones Act is boosting Russian energy imports.
- The Jones Act was passed in the 1920’s and mandates that all goods (including oil) that are being shipped between two ports in the U.S. must be transported on a U.S.-built boat that is manned by a crew that is at least 75% American.
- This law drives up the cost of shipping and energy transportation which often leads to domestic refineries importing oil from nations with fewer environmental regulations, such as Russia.
- The United States can be tough on Russia and tough on climate change by repealing the antiquated Jones Act to allow domestic production to flourish.
Read the full article here.