President Donald Trump is deploying a rarely used national security tool to strengthen America’s fuel infrastructure as the escalating conflict with Iran sends energy prices soaring and places additional financial pressure on households and businesses.
The White House announced Thursday that it would make up to $150 million available through the Defense Production Act, a Cold War-era statute that allows Washington to direct resources toward industries considered essential to national defense.
The initiative targets a critical weakness in America’s energy system: the ability to turn domestically produced crude oil into gasoline, diesel, and aviation fuel.
