Trump Administration Eases Energy Crisis

0:00On March 18th, the Trump administration moved quickly this week to tackle skyrocketing energy costs from the Middle East War, issuing a 60-day waiver on the Century Old Jones Act and easing sanctions on Venezuela's state oil company. Oil prices surged after U.S. and Israeli strikes on Iran on February 28th, with Iran's response halting most commercial shipping through the. Straight of Hormuz, a key route for about one-fifth of the world's crude and natural gas. Gasoline prices across the U.S. have climbed more than 27 percent since the conflict began, hitting household budgets hard amid already high. Living costs and adding pressure ahead of mid-term elections. The Jones Act waiver lets foreign flagships carry oil, gas, and other goods between U.S. ports, a change experts say could ease bottlenecks since so. Few tankers meet the law's strict U.S. built rules. Every official say, the Venezuela license will boost global oil supply, while administration

1:01leaders stress these steps, strengthen supply chains. During what Vice President J.D. Bands called, a temporary rough patch.