Trump invokes Cold War-era Defence Production Act to boost oil production and refining
US โ President Donald Trump determined โ on Thursday that petroleum โ production, refining and related activities are essential to national defence, a move that could open up US funding for fossil fuel projects. In a presidential memo, Trump also invoked part of โthe Cold War-era Defence Production Act, allowing him to provide financial incentives for oil-related activities, pipelines and storage of liquid fuels. Prices for crude oil and diesel have surged since the US and Israel attacked Iran in...