Market Extra: What is the Jones Act? And why might waiving it help ease East Coast gas ‘supply crunch’?

The Biden administration is exploring a temporarily waiver of the Jones Act, a U.S. shipping law, to allow foreign vessels to carry fuel up the Eastern Seaboard to ease supply bottlenecks following the Colonial Pipeline shutdown.

The Biden administration is exploring a temporarily waiver of the Jones Act, a U.S. shipping law, to allow foreign vessels to carry fuel up the Eastern Seaboard to ease supply bottlenecks following the Colonial Pipeline shutdown.