Oil continues its rise – West Texas Intermediate was $57 at the close of trading Monday – pushed up by “arresting” events in Saudi Arabia and lower-than-expected output from the US.

 

On a tragic note, the administration suspended the Jones Act (requiring US-built ships with US crews) for a mere 2 weeks for shipments to Puerto Rico.  Two weeks is hardly enough time to get a truck – let alone ship (slight exaggeration) – but it is time for this ~100-year-old protectionist act to be eliminated.  In this case, the tragedy is that people need help – and they are not getting it!