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.
TL;DR
- 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.