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Trump May Waive the Jones Act for Oil Shipments. Let's Repeal It Instead.
One of the spillover effects of the recently launched war in Iran is higher energy costs: The prices of oil and gas have risen considerably since President Donald Trump piggybacked on Israel's bombing campaign.
Now, Trump is reportedly considering a workaround to address the problem in the short term, by suspending enforcement of a protectionist law. That's a good start, but we should go one step further and repeal it altogether.
"The war has effectively closed the Strait of Hormuz, a critical choke point between the Persian Gulf and the Indian Ocean," Reason's Eric Boehm wrote Monday. "A large portion of the world's oil supply flows through it."
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