White House to extend Jones Act waiver to lower U.S. gasoline prices
The White House is expected to extend a waiver of the century‑old Jones Act in the coming days, according to sources. The current exemption, which expires on Aug. 16, has become the longest suspension in the program’s history and has been used nearly 200 times over four and a half months.
The waiver is intended to increase the availability of tankers that can move fuel between U.S. ports, easing bottlenecks and potentially reducing gasoline prices by only pennies per gallon. U.S. gasoline is averaging more than $4 a gallon, and President Donald Trump is seeking options to curb prices ahead of the November midterm elections. Other measures such as a windfall‑profits tax, price controls or legal action against oil companies have been described as politically unrealistic or economically risky.
Bob McNally, president of Rapidan Energy Group, said the most effective lever would be to press Saudi Arabia to raise output, but that option is constrained by disruptions in the Strait of Hormuz. Critics of the extension are urging limits on the waiver’s scope.
Entities
Bob McNally · Jones Act · President Donald Trump · Rapidan Energy Group · White House
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 3 SOURCES] Bob McNally, president of Rapidan Energy Group, said the most effective option would be to press Saudi Arabia to increase oil production, but this is not feasible because of Strait of Hormuz disputes. wdez.com · wxerfm.com · kfgo.com
- [● 3 SOURCES] Critics are urging limits on the extension of the Jones Act waiver. wdez.com · wxerfm.com · kfgo.com
- [● 3 SOURCES] U.S. gasoline prices are averaging over $4 per gallon. wdez.com · wxerfm.com · kfgo.com
- [● 3 SOURCES] President Donald Trump has criticized Exxon Mobil and Chevron for making “too much money.” wdez.com · wxerfm.com · kfgo.com
- [● 3 SOURCES] The current Jones Act waiver expires on August 16. wdez.com · wxerfm.com · kfgo.com
- [● 3 SOURCES] The waiver has been used nearly 200 times over four and a half months through the end of July. wdez.com · wxerfm.com · kfgo.com
- [● 3 SOURCES] The White House is expected to extend a waiver of the Jones Act in the coming days. wdez.com · wxerfm.com · kfgo.com
- [● 3 SOURCES] The waiver aims to increase shipping flexibility and reduce transport bottlenecks, potentially lowering gasoline prices by only pennies per gallon. wdez.com · wxerfm.com · kfgo.com