Four firms capitalize on Jones Act waiver

11/8/2012

WASHINGTON— Secretary of Homeland Security Janet Napolitano announced the expansion of the temporary, blanket waiver of the Jones Act, issued Friday, to also facilitate the transportation of feedstocks, blending components, and additives used to produce fuels, according to a DHS release.

As a result of impacts caused by Hurricane Sandy, Secretary Napolitano initially issued a temporary, blanket waiver of the Jones Act to immediately allow additional oil tankers coming from the Gulf of Mexico to enter Northeastern ports, to provide additional fuel resources to the region.

According to Reuters, four companies, at this point unidentified, have told DHS they intend to take advantage of the waiver. The have until November 13 to load vessels in the Gulf and until November 20 to deliver the fuel and fuel-products to the Northeast. Reuters estimates each trip to be worth roughly $2 million in revenue.

The step was taken as soon as additional assets that could be used to bring resources to the area were identified, as part of the Administrations priority to ensure barriers to bring assets to bear are removed, DHS said.

The Administration is continuing to monitor the situation and is prepared to take additional actions as necessary to ensure that the energy needs of the region affected by Hurricane Sandy are met. 


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