en.Wedoany.com Reported - The White House is expected to extend the waiver of the century-old Jones Act in the coming days, one of the few tools it has at its disposal to lower gasoline prices. Meanwhile, President Donald Trump has intensified his criticism of Exxon Mobil and Chevron, saying they are "making too much money."
The Jones Act requires that cargo transported between U.S. ports be carried on vessels built in the United States, owned by U.S. companies, and operated by U.S. crews. This waiver aims to lower gasoline prices by increasing shipping flexibility and reducing transportation bottlenecks.
The oil industry had expected the waiver to be extended before the end of July, but three people familiar with the matter, who spoke on condition of anonymity because they were not authorized to speak publicly, said government officials are still meeting with maritime industry representatives and lawmakers to discuss possible changes that would narrow the scope of the waiver while preserving transportation flexibility for critical fuel supplies.
The current waiver expires on Aug. 16, and this has already been the longest suspension of Jones Act rules in the program's history. U.S. government data shows the waiver has been used nearly 200 times over the four and a half months through the end of July.
With the November midterm elections approaching, Trump has few easy options for lowering gasoline prices—currently averaging more than $4 per gallon nationwide. The administration has taken steps such as increasing oil supplies and easing regulations, and on Monday Trump pressured Exxon Mobil and Chevron, saying the two companies should pass their profits on to consumers at the pump.
Bob McNally, president of Rapidan Energy Group, said the most effective option for a U.S. president is to pressure Saudi Arabia to boost oil production, but that option is not viable amid the Iran conflict, as disruptions near the Strait of Hormuz constrain exports. He added that measures such as windfall profit taxes, gasoline price controls, or legal action against oil companies are either politically unrealistic, economically risky, or unlikely to meaningfully reduce prices.
McNally said the Jones Act waiver increases the availability of oil tankers but may only lower gasoline prices by a few cents per gallon.
Opponents of extending the waiver are pushing for geographic restrictions and stricter review of each cargo shipment. These individuals said White House trade adviser Peter Navarro, Office of Management and Budget Director Russell Vought, and the White House Energy Dominance Council have been involved in discussions on extending the waiver.
Sources said a final decision has not been made and details could change.
Key Republican lawmakers, including House Speaker Mike Johnson and House Majority Leader Steve Scalise, have urged the administration to restrict the waiver, warning that broad use could weaken the domestic fleet and undermine the Jones Act's national security objectives.
A White House official said the administration is continuing to monitor the waiver's usage and that discussions are ongoing. The official said any further announcements would come directly from the president or the administration.
Maritime groups have been stepping up their opposition to extending the waiver. The American Maritime Partnership (AMP) has resumed advertising on CNBC and Fox News, and AMP and the American Waterways Operators are also running digital ads.
AMP President Jennifer Carpenter said the waiver benefits foreign operators and energy companies more than consumers. "The waiver has shifted routine domestic trade to foreign operators, including entities linked to China and Russia, while undermining the U.S. maritime industrial base," she said.
