OSG CEO Challenges Claims That Jones Act Waivers Lower Gas Prices

Samuel H. Norton, CEO of Overseas Shipholding Group Inc., challenged a Wall Street Journal editorial claiming that Jones Act waivers reduced gasoline prices in California. Norton argues that a 25-cent decrease in the price gap between California and the national average resulted from rising prices outside the state rather than lower shipping costs.

Norton asserts that California's high energy costs are driven by state regulatory policies and supply chain disruptions caused by the war in Iran. He contends that continuing these waivers primarily benefits refiners and distributors while weakening the U.S. maritime industry. He further claims the policy allows Chinese and Russian operators to utilize domestic sea routes without sufficient enforcement.