The US government has extended the Jones Act waiver for 90 more days, aiming to ease the delivery of oil, fuel, and fertilizers amidst rising prices. The move, according to the White House, is part of a broader strategy to mitigate the energy crisis caused by the ongoing Iran-US tensions, particularly ahead of the November midterm elections. US President Donald Trump claims that the American naval blockade has severely crippled Iran’s economy, with the nation rapidly weakening and millions of dollars in losses being incurred daily.
The Jones Act, enacted in 1920, requires the transportation of goods between American ports to be done solely by American ships. The law’s intention is to safeguard the domestic maritime industry, but critics argue it increases the cost and inefficiency of goods transportation. Experts and industry professionals, as reported by Arab media, believe the waiver will unlikely lead to a significant reduction in fuel prices. According to estimates, the price of gasoline on the East Coast may only decrease by 3 cents, while prices in the Gulf region may rise.
Critics have also expressed concerns that the decision may harm the local shipbuilding industry and workers, while allowing oil companies to increase their profits. The rising tensions between the US and Iran, particularly in the Strait of Hormuz, have led to a significant increase in global oil prices. A recent survey found that 77% of voters hold President Trump responsible for the rise in oil prices, citing the ongoing conflict with Iran as the main reason.
In response to the US sanctions, Iranian officials have threatened to increase their military capabilities, with the country’s defense minister stating that the US has encircled Iran and is targeting its electricity infrastructure to create chaos among the population. Meanwhile, US National Security Adviser John Bolton has warned that the Iranian regime is “on the ropes” and that the US is preparing for a potential military conflict.
In other news, the Indian state of Rajasthan is facing a severe water crisis, which has led to a sense of desperation among the population. A 26-year-old man, Hasam Abu Ghareeb, has been charged with the murder of his cousin and friend, Zamil Lemon, in the city of Amritsar. The US-based magazine reported that despite public support for impeachment, the chances of President Trump being impeached are slim due to the Republican Party’s control of the House of Representatives.
In a separate incident, the bodies of two children were found in a house in the Indian city of Amritsar, with the firefighters who rescued them later declaring them dead. The case has raised suspicions, with the police investigating the circumstances surrounding their deaths.
