• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 23 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 7 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 6 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 5 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 7 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 10 days Bankruptcy in the Industry
Conflicts Could Put West Africa's Oil Supply At Risk

Conflicts Could Put West Africa's Oil Supply At Risk

Potential spillover of conflicts to…

US Waives The Jones Act Allowing Foreign Ships to Supply Fuel to the North East

The US Waives The Jones Act Allowing Foreign Ships to Help Supply Fuel to the North East

The Jones Act was created in 1920 to help support the maritime industry in the US by ensuring that any goods moved between US ports must be done so in domestically built ships, crewed by US citizens.

In a rare move, the Department of Homeland Security has decided to issue a waiver allowing foreign vessels to transport petrochemicals to ports in the north east, in an attempt to increase supply of the fuels in the region most affected by the passing of hurricane Sandy.

Related Article: Why US Energy and Economic Prospects Improve if Obama Loses

Foreign ships will supply Northeastern ports with products such as diesel and gasoline from refineries in the Gulf of Mexico; although the true effectiveness of this strategy is unknown due to the fact that most ports in the area are still without power.

The American Maritime Partnership (AMP) has said that it is not aware that US vessels are not able to make the deliveries themselves, however it “will not oppose waivers that are necessary to facilitate delivery of petroleum products into the regions affected by Hurricane Sandy.”

The waivers even allow ship owners to divert cargoes that are bound for Europe or Latin America to supply the depleted market in the North East. What effects this will have on fuel supply and prices in these continents is unknown.

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News