Jones Act waivers are already in use as a policy lever to contain oil prices, according to a March 2025 commodity research note from JPMorgan. ^[1] JPMorgan head of commodity research Natasha Kaneva outlined six policy levers the Trump administration could pull: Jones Act waivers, Strategic Petroleum Reserve releases, export restrictions, waiving federal fuel taxes, and two others. The article states that some of those levers, including Jones Act waivers and SPR releases, have already been used. ^[1] The read here is that the Jones Act is not a fixed rule for island shipping; it is a dial the mainland turns when prices press, and this column will track each turn. Puerto Rico sits at the receiving end of that dial. Every waiver changes what reaches the island's ports, and every return to full enforcement changes it back. What stands out is the asymmetry: the mainland pulls the lever for its own price relief, while the island carries the cost of the ship it rides on.