Grabow: Zero Jones Act-Compliant LNG Tankers Exist in the United States
Colin Grabow · How an obscure, 100-year old law is disrupting U.S. energy · Apr 18, 2024 · at 17:26
Cato Institute fellow Colin Grabow explains why the U.S. cannot ship domestic LNG between American ports despite being the world's leading exporter.
0:00 / 0:08exact quote · 8.5s
720p mp4 · rendered on demand · StarZero watermark
“We can't transport it by water to other parts of the United States because there are no LNG tankers that comply with the Jones Act.”
quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →
More from Colin Grabow
Grabow: US-built container ships cost five times more than international builds
“By the 19 thirties, it was up to a 50% premium for U.S. Built ships. By the 19 fifties, a U.S. Built ship was double the cost of one built abroad. By the 19 nineties, it was triple the cost of one built abroad, and today, a U.S. Built container ship is somewhe…”
Grabow: Foreign shipyard workers earn more than Americans despite building cheaper ships
“Well, the data suggests, actually, that workers in South Korea and Japan and Europe, they make more than Americans, and yet the ships are still significantly cheaper, so that's interesting.”
Grabow: Ships transport only about 2% of US freight
“If you look at The data, something like only two percent of freight in the United States is transported by ships. You add in barges, that's like another four percent. So we're well under 10% for water transport in the U.S.”
Grabow: East Coast refineries import more foreign oil than domestic oil
“East Coast refineries, say, in the Mid-Atlantic they import more oil from places like Libya or the Middle East or Nigeria than they do from Texas, from the Gulf Coast.”
Grabow: U.S. LNG Tankers Cost $700M to Build Versus Under $200M in South Korea
“A few years ago, the Wall Street Journal estimated that to build an LNG tanker in the United States would cost around seven hundred million dollars, whereas at that time you could buy one for, I think, less than two hundred million in South Korea.”