Account-1:
Account-2:
Scholar:
Date:
Friday, April 3, 2020
Reactions:
343 reactions
Body:
Verified
The U.S. oil industry has certainly seen better days.
Surging production by Russia and Saudi Arabia along with a sharp drop in demand due to the COVID-19 #pandemic have pushed global #oil benchmark prices to nearly $20 per barrel. The last time oil prices were that low Bill Clinton was president.
#PresidentTrump is meeting with the heads of several U.S. oil producers today to discuss options for #economic relief.
One of the measures reportedly under consideration is a temporary waiver of the #JonesAct. It would be an excellent move.
A waiver to #EndTheJonesAct, even temporarily, would cost #taxpayers nothing while bolstering the oil sector’s flagging fortunes. It would also help realize Trump’s stated goals of placing #AmericaFirst, confronting the DC swamp, and #deregulating an overburdened #economy.
If President Trump wants to place a needed shot in the arm of U.S. oil producers, a Jones Act waiver would be just the ticket.
Learn more at the link in our bio
Custom Description:
@CatoInstitute (Instagram) authored a viral Instagram post which received 343 reactions "Verified The U.S. oil industry has certainly seen better days. Surging production by Russia and Saudi Arabia along with a sharp drop in demand due to the COVID-19 #pandemic have pushed global #oil benchmark prices to nearly $20 per barrel. The last time oil prices were that low Bill Clinton was president. #PresidentTrump is meeting with the heads of several U.S. oil producers today to discuss options for #economic relief. One of the measures reportedly under consideration is a temporary waiver of the #JonesAct. It would be an excellent move. A waiver to #EndTheJonesAct, even temporarily, would cost #taxpayers nothing while bolstering the oil sector’s flagging fortunes. It would also help realize Trump’s stated goals of placing #AmericaFirst, confronting the DC swamp, and #deregulating an overburdened #economy. If President Trump wants to place a needed shot in the arm of U.S. oil producers, a Jones Act waiver would be just the ticket. Learn more at the link in our bio"