Refiners, Not Consumers, Are Biggest Winners From Jones Act Waiver, OSG CEO Says

The Trump administration’s emergency Jones Act waiver has delivered a windfall to U.S. refiners while doing little to lower fuel prices for consumers, according to a new analysis from the head of one of the country’s largest U.S.-flag tanker operators.

In a commentary released this week, Overseas Shipholding Group CEO Sam Norton argues the waiver has allowed refiners and fuel distributors to capitalize on soaring profit margins while foreign-flag tankers increasingly perform domestic voyages that would normally be reserved for U.S.-flag vessels under the Jones Act.

“It is hard to dispute who has benefited most from the ongoing conflict