“It costs six dollars per barrel to move crude from the Gulf Coast to the Northeast United States on a Jones Act tanker, while a foreign-flag tanker can take that same crude to a refinery in Canada for two dollars per barrel”
Is this true?
I don’t know how many oil refineries there are in the North East that would need crude oil. Even if he means shipping refined product, his proposal is penny wise and pound foolish.
(I have to leave the house so I won’t be able to follow the thread till evening.)
I think the bigger questions are:
* Why isn't it easier to build a refinery in the Gulf Coast and then ship the refined products to the North East?
* After said refinement, that is why isn't then their a Pipeline to ship said refined crude to the North East?
* An even bigger question is what are the Gas and Oil Resources in the North East and why aren't they extracting them?
Perhaps Nimbyism and the EPA are two issues the Senator is forgetting about?
Possibly. Take a tanker built in China and crewed by people from Asia and Africa and your costs will be much less.