Iran and the Oil Landscape

Severing our ties to the global oil market would be neither practical nor desirable, and would likely come with some painful unintended consequences, writes EPIC Executive Director Sam Ori.

President Trump’s temporary waiver of the Jones Act—a policy that requires goods shipped between U.S. ports to travel on U.S.-built and operated vessels—is intended to ease fuel price pressures amid the Iran conflict. An EPIC study shows the law itself contributes to higher costs by limiting domestic shipping. Analysis by EPIC scholar Ryan Kellogg finds that lifting these restrictions could deliver $769 million in annual savings for U.S. consumers by increasing fuel shipments from the Gulf Coast and improving market efficiency.