Apparently not for the light crude that they're talking about.
That’s right so dump it on the market and kill the price of oil. It’s basic supply and demand. OPEC beat econ 101, by playing games with supply. That doesn’t work when we start dumping oil on the market. In fact it may result in a downward spiral since other nations, including Russia and the Middle Easter oil exporters rely on oil for financing their economies. They’ll have to pump and sell more in the face of declining prices to maintain their income.
The Saudis rightly recognized that fracking was the equivalent of a gun to their head. Now that we have the light oil, it’s time to pull the trigger.
If the Jones Act didn't tie our hands needlessly, that oil would go to US refineries that today import light sweet from overseas.
It is a matter of location and transportation, not the total capacity.
For some bizarre reason,it is acceptable for a foreign ship with a foreign crew to delivery oil from an overseas nation to any port in the US, but it is not acceptable for the same crew and ship to deliver crude produced here in the US to the same US port.