What is the estimated volume of energy products transported under previous waivers?

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Estimated Volume of Energy Products Transported Under Previous Waivers

Data from the Cato Institute estimates that over 54 million barrels of energy products have been transported between US ports since March. This movement occurred across more than 200 voyages, facilitated by a waiver of the Jones Act. The waiver, which requires cargo between US ports to be carried on US vessels, was initially introduced in March and has seen extensions.
Waivers Facilitated Significant Domestic Commerce

The Jones Act waiver has been credited with unlocking domestic commerce that was previously restricted. According to Colin Grabow and Scott Lincicome of the Cato Institute, this relief has enabled a substantial increase in the domestic delivery of essential products. These include gasoline, diesel, and jet fuel, supplying American companies with energy products that would have otherwise been imported at a higher cost.
Focus on Energy and Review of US Vessel Availability

The current 90-day extension of the waiver is more narrowly focused on the transport of energy products. A White House official confirmed that this latest relief also mandates reviews of US vessel availability. These reviews will determine if the waiver applies to individual voyages, indicating a more targeted approach compared to previous iterations.
Impact on Domestic Energy Supply Amidst Disruptions

The extensions of the Jones Act waiver have occurred during a period of significant disruption to global energy flows. Wars and conflicts in the Middle East have impacted transit through critical waterways like the Strait of Hormuz. This has led to surges in oil prices and increased gasoline prices within the United States, affecting household budgets. The waivers aim to ensure uninterrupted access to critical resources for the military and key industries.

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What is the estimated volume of energy products transported under previous waivers?

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