Oil and Gas Jones Act Waivers Sought in the U.S. Senate

The U.S. Senate is considering this week legislation (S. 2204) to eliminate tax subsidies for oil and gas exploration, development and production. In that context, Sen. John McCain has offered four amendments to the legislation that vary between waiving the Jones Act altogether for the movement of oil and gas to permitting foreign-built vessels to obtain U.S. coastwise trading privileges and the like. The Jones Act restricts U.S. interstate maritime commerce to qualified U.S.-flag vessels constructed in the United States.