# Trump Uses Cold War Law to Boost Oil Production

President Trump invoked the Defence Production Act to support oil production and refining. The move allows financial incentives for oil projects, pipelines, and fuel storage. Crude oil and diesel prices have risen following US and Israeli actions in Iran.

https://www.scmp.com/news/world/united-states-canada/article/3371836/trump-invokes-cold-war-era-defence-production-act-boost-oil-production-and-refining

Image: https://cdn.i-scmp.com/sites/default/files/styles/1280x720/public/d8/images/canvas/2026/10/23/a318648b-9948-4d81-b038-094c40241e0b_08dd78b8.jpg?itok=D0Sw3J-3&v=1792707695

#defence #oil #production #fossil

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Created: 2026-10-22T23:00:42.842859+00:00

Last edited: 2026-10-22T23:00:42.842859+00:00

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Origin: Syndicated

Original source: https://www.scmp.com/news/world/united-states-canada/article/3371836/trump-invokes-cold-war-era-defence-production-act-boost-oil-production-and-refining