Trump activates Cold War defence law to fund oil output and refining
President Donald Trump declared petroleum production and refining essential to national defense, invoking the Defence Production Act to enable federal support for oil projects.
In a Thursday memorandum, Trump classified oil extraction, refining and related infrastructure as critical to U.S. defense. The move activates a Cold War-era authority that can provide financial incentives for pipelines, storage and other fuel-related activities. The decision comes amid rising gasoline and diesel prices linked to the U.S. and Israel's strike on Iran and subsequent disruptions to global energy flows, including Ukrainian attacks on Russian refineries.
Why it matters
The order could channel federal money into oil projects, affecting fuel prices and election politics.
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