Congress, regulators, and industry should collaborate to enhance energy product reliability programs and regulations at existing agencies, rather than complicating matters through the creation of a new, duplicative reliability regulator.
Limiting California’s access to the exact types of crude oil its facilities need will only increase prices for the state’s consumers and travelers. Drivers are already dealing with gasoline prices in excess of $5 per gallon and the highest fuel taxes of the 50 states. Confining energy producers and consumers to a smaller pool of crude oil will make a very sensitive price environment that much worse.
Issues and Policies
U.S. refining increased to more than 18.6 million barrels per day, almost 20% of global capacity.
We create the jobs that employ more than 4 million Americans in 33 states.
Petrochemical manufacturers have invested $185 billion to expand operations to meet growing demand.