Crude, not charters, cause gas spike, say U.S. shipowners
American Maritime Partnership (AMP), a lobbying organization for the domestic shipping industry, said it's being unfairly blamed for the rising price of gasoline.
In a letter sent Tuesday to Rep. Duncan Hunter, chairman, and Rep. John Garamendi, ranking member, of the House Coast Guard and Maritime Transportation Subcommittee
, AMP complained "a small number of misinformed individuals have blamed the increase on American shipping companies. However, we want you to know that the change in the cost of gasoline is not the result of transportation costs."
The letter goes on to say that "almost 70 percent of the cost of gasoline is linked to the cost of crude oil," and "the price of shipping within the United States is a minimal factor in the overall supply chain."
The Jones Act's requirement that ships moving cargo between two points in the United States be built and registered in the United States and crewed by Americans has attracted increased attention from television stock-picker Jim Cramer
, and groups like American's for Tax Reform
and the Heritage Foundation
weighing in on the subject in recent weeks. - Chris Dupin
We’ll send it to you!
Sign up for the free AS Daily Newsletter.