A proposed rule under consideration by the Trump Administration to tighten Jones Act rules for offshore construction vessels could slam oil and gas spending in US waters, according to a study commissioned by the oil industry trade group American Petroleum Institute.

But a US offshore vessel owner group says it is ready to handle the new work brought on by the proposal by US Customs and Border Protection.

As TradeWinds has reported, CBP is proposing to sweep aside a series of prior rulings by the agency that had made it easier for foreign-flag vessels to operate in waters protected by the Jones Act, the law that requires vessels in domestic trades to be US-built as well as crewed and owned by Americans.