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South China Morning Post
Trump invokes Cold War-era Defence Production Act to boost oil production and refining
US President Donald Trump determined on Thursday that petroleum 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 the 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..
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