Scoop: Trump mulls Jones Act waiver extension to lessen Iran War oil shock

ports from California to Texas to Florida and Alaska, increasing the de facto fleet by 70 and helping to reduce costs as a result, according to data provided to Axios by the White House.Total American oil shipped by these foreign-flagged vessels under the waiver: 9 million barrels and counting.Administration officials say the impacts have been notable in Alaska, where the jet fuel slated to be imported under the waiver is roughly equal to half the state's average monthly consumption.Friction point: Libertarians hate Jones Act because it raises costs, but protectionists argue it helps keep U.S.-flagged vessels on the water.Waiving the Jones Act would allow ships licensed and built outside the United States (including by China) to take work away from Americans in our home markets, according to an analysis by the conservative Hudson Institute.It could harm the tens of thousands of American workers and tens of billions of dollars invested in America's shipping and shipbuilding industries.Counterpoint: The libertarian Cato Institute called the law an archaic, burdensome law has been able to withstand scrutiny and persist for almost a century.There is an asymmetry of motivations among those who benefit from the Jones Act's protections and the vastly greater number who bear its costs.What they're saying: One Trump adviser who has discussed the act with the president said Trump likes what he sees.As long as the Iranians are a threat and raising fuel prices, the president would like to keep the waiver in place for as long as is necessary, the adviser said.White House spokesperson Taylor Rogers said no final decisions have been made on whether to extend the Jones Act waiver, but the administration has mitigated cost increases and the data reveals more supply has reached U.S. ports faster.