Government leaders

Trump invokes Cold War-era Defence Production Act to boost oil production and refining

South China Morning Post22 October 2026, 22:21 UTCIsrael

US ⁠President Donald Trump determined ⁠on Thursday that petroleum ⁠production, refining and related activities are essential to national defence, a move that could open up US funding for fossil fuel projects. In a presidential memo, Trump also invoked part of ‌the Cold War-era Defence Production Act, allowing him to provide financial incentives for oil-related activities, pipelines and storage of liquid fuels. Prices for crude oil and diesel have surged since the US and Israel attacked Iran in...

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Benjamin NetanyahuGovernment leadersIsrael22 October 2026, 16:19 UTC
Isaac HerzogGovernment leadersIsrael21 October 2026, 06:49 UTC

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