Trump Invokes Defense Production Act To Increase Petroleum Production

What happened: President Donald Trump invoked the Defense Production Act of 1950 in an Oct. 22 memorandum to increase U.S. oil production, directing Secretary of War Pete Hegseth to use purchases, commitments, and financial instruments to expand petroleum infrastructure. Key numbers: Brent crude was more than $113 per barrel as of Thursday. Average U.S. Why it matters: Trump said petroleum fuels the armed forces and that without immediate federal action U.S. defense capabilities remain vulnerable to disruption. He also waived standard statutory requirements under the act. Coverage: 3 outlets in 24h

President Donald Trump invoked the Defense Production Act of 1950 in an Oct. 22 memorandum to increase U.S. oil production, directing Secretary of War Pete Hegseth to use purchases, commitments, and financial instruments to expand petroleum infrastructure.

Trump said petroleum fuels the armed forces and that without immediate federal action U.S. defense capabilities remain vulnerable to disruption. He also waived standard statutory requirements under the act.