Russian natural gas is again being delivered by ship to an American port, according to news reports. Bloomberg says the tanker Catalunya Spirit, carrying fuel from thousands of miles away, was set to arrive in Puerto Rico last week. Such a transaction makes little sense, as the U.S. is the world’s largest gas producer. What explains the mystery is the Merchant Marine Act of 1920, also known as the Jones Act. The law says that ships carrying cargo between U.S. points must be built, 75% owned, and 75% crewed by Americans.

Source: Wall Street Journal November 03, 2019 23:15 UTC