AFPM, API Respond to President Biden’s Letters to U.S. Refiners

AFPM President and CEO Chet Thompson and API President and CEO Mike Sommers sent a letter to President Biden responding to recent letters the Administration sent to major U.S. fuel refiners suggesting that these companies, their workforces and facilities throughout the country aren’t doing their part to bring fuel to the market and lower energy costs for consumers.

AFPM Statement on White House Letters to U.S. Refiners

We are surprised and disappointed by the President’s letter. Any suggestion that U.S. refiners are not doing our part to bring stability to the market is false. We would encourage the Administration to look inward to better understand the role their policies and hostile rhetoric have played in the current environment.

Freight Rail Challenges Discussed During Surface Transportation Board Visit

To address freight rail concerns, leaders from LyondellBasell and the Surface Transportation Board (STB) held discussions and toured LyondellBasell’s facility in Morris, Illinois. LyondellBasell’s Morris Complex is unique in that it is served by more than one major rail carrier. Nearly 80 percent of U.S. refineries and petrochemical facilities operate in regions served by just one freight rail provider.

Refining Capacity 101: What to Understand Before Demanding “Restarts”

The United States has the most complex and efficient refining industry in the world, but we also have less refining capacity than we used to. Where the issue of refining capacity is concerned, it’s important to understand what refining capacity is, why we’ve lost capacity in the United States and how policies can advance the competitiveness of our refineries in the global market.

Refiners Bewildered by Biden Administration RFS Rule that Will Increase Costs for Refiners & Consumers

EPA's 2022 RFS standard is bewildering and contrary to the Administration’s claims to be doing everything in their power to provide relief to consumers. Unachievable mandates will needlessly raise fuel production costs and further threaten the viability of U.S. small refineries, both at the expense of consumers.

What drives prices at the pump

Oil markets are famously sensitive to uncertainty. Global conflict can send prices higher on concerns that crude oil supplies could be disrupted. This is playing out in response to Russia’s unprovoked acts of war against Ukraine. Russia is a major supplier of crude oil and other energy products globally, though less so in the United States. In recent days, many market participants have committed to stop purchasing Russian oil. Shipping companies are concerned about loading cargoes from Russia and some shippers are finding the cost associated with such cargoes too high. These moves are tightening an already tight market.