Petroleum Group Pleased With CBP Reversal on Jones Act Rulings
The American Petroleum Institute celebrated CBP's decision to withdraw proposed ruling changes involving the Jones Act and vessels transporting oil and gas equipment (see 1705090033). “Withdrawing the proposed changes protects U.S. energy security and allows for consumers and businesses to…
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continue benefiting from America’s energy renaissance,” API Upstream Director Erik Milito said in an news release (here). A report commissioned by API (see 1704050006) "projected that this proposal could have resulted in the loss of thousands of American jobs, reduced U.S. oil and natural gas production, and diminished revenues for federal and state government. By rescinding the proposal, CBP has decided not to impose potentially serious limitations to the industry’s ability to safely, effectively, and economically operate."