Trump invokes Cold War-era Defense Production Act to expand oil production
President Trump announced Thursday that he invoked the Cold War-era Defense Production Act to enable his administration to offer financial incentives for oil-related activities, including drilling, building pipelines and storing liquid fuels.
President Trump invoked the Defense Production Act, a law from the Cold War era, on Thursday. This action allows his administration to provide financial incentives for various oil-related activities. These incentives will cover areas such as drilling, pipeline construction, and liquid fuel storage.
- President Trump invoked the Defense Production Act.
- This act is from the Cold War era.
- The administration can now offer financial incentives for oil-related activities.
- Incentives will cover drilling, building pipelines, and storing liquid fuels.
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