President Donald Trump has waived the Jones Act, a century-old shipping law, to increase oil and gas supply to US ports. The 60-day waiver aims to combat rising commodity prices sparked by tensions with Iran. However, the move is hurting Kinder Morgan’s stock, down 1% due to increased competition and loss of revenue from the waiver.
Source: https://www.marketwatch.com/story/trump-waives-jones-act-shipping-law-in-an-effort-to-lower-oil-prices-4778685c