Experts say the federal government is making high energy costs in the Northeast U.S. worse due to policy. This as heating costs are already sky-high ahead of winter.
Power the Future Executive Director Daniel Turner joined 'Kennedy' to discuss reports heating oil stockpiles in the Northeast and New England are down to a third of normal levels.and the Northeast is expected to be hit hardest this winter. due to ongoing diesel shortages and because it relies heavily on home heating oil. It also lacks the pipeline infrastructure of other areas of the U.S. and therefore must have liquid natural gas and other fuels imported.
Months ago, New England governors suggested the Department of Energy consider suspending the Jones Act, also known as the Merchant Marine Act of 1920, which requires goods shipped between U.S. ports be carried on vessels built, owned and operated by Americans.Due to the federal statute, the energy-poor Northeast buys its fuel from abroad because it is typically cheaper to do so than to buy from energy-rich domestic regions like the Gulf of Mexico.
Lincicome told FOX Business that American-made ships cost roughly four to five times as much to build as their global counterparts, and there "are a grand total of zero" liquid natural gas tankers that are Jones-compliant because it is so cost-prohibitive to build such a sophisticated vessel domestically.has issued Jones Act waivers in the past during emergencies.
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