Find industry information, news and updates from AFPM, and connect to our media team.

Recent Posts

What Happens with Refinery Profits… and Are “Buy Backs” a Bad Thing?

Earnings in commodities-based industries tend to be cyclical. Because of the up-and-down reality of refining, it would be a mistake to regulate or legislate based on the high points. A few quarters of earnings don’t provide an accurate representation. That context is important for answering the question of what happens with refinery profits and whether using earnings to “buy back” stock from shareholders is an appropriate use of those funds.

AFPM and API to Sec. Granholm: Refined Product Export Ban Will Disrupt Global Markets and Harm U.S. Consumers

The American Fuel and Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson and American Petroleum Institute (API) President and CEO Mike Sommers today sent a letter to U.S. Secretary of Energy Jennifer Granholm raising significant concerns that the administration could pursue a ban or limits on refined petroleum products.

“Banning or limiting the export of refined products would likely decrease inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices, and alienate U.S. allies during a time of war,” Thompson and Sommers wrote.

AFPM Statement on Gas Prices Surrounding Hurricane Ian

“Our country has seen time and again that major storms and often-correlated runs on gas stations can have a swift impact on prices. Already in Florida, some key areas are functioning with roughly 20 percent of retail stations either out of gas or out of power. That means there is less supply overall and some temporary inability to access supplies in certain Florida communities where there is, at present, heightened local demand. The market is resilient and will work to fix this imbalance swiftly, but a return to normalcy will likely not be immediate as the supply chain is complex and buyers will need to return to their normal purchasing habits."

Hurricane Ian: Be Prepared

All eyes are on Hurricane Ian, which is expected to approach Florida’s west coast later Wednesday and into Thursday bringing high winds and massive amounts of rain. Although our nation’s refiners and petrochemical manufacturers do not have facilities in the affected region, we’d like to urge the people in the area to prepare for the storm and heed all evacuation notices. Florida residents can get critical preparedness and evacuation information here.

California Confusion: State Issues Emergency Alert to STOP Charging EVs Days after Voting to Ban Gas and Diesel Cars

Days after state regulators voted to ban gasoline and diesel cars and trucks, millions of California residents received an emergency alert to cut off all unessential electricity use and to stop charging their electric vehicles (EVs) in order to keep the lights on around the state. The timing is uncanny and shows the recklessness of a rushing to ban gas and diesel cars in order to force vehicle electrification.

Plastics reduce emissions — here’s how

McKinsey released a new report outlining the emissions profiles of plastic vs. non-plastic alternatives in multiple use cases. They found that in nearly every case examined, plastics are responsible for less greenhouse gas emissions throughout their lifecycle than alternative materials.

CA Seeks EPA Authorization to Ban Gas and Diesel Vehicle Sales. Policy Could Spread to Other States Too.

The California Air Resources Board (CARB) adopted its Advanced Clean Cars II (ACCII) regulation. ACCII requires 35% electrification of light-duty vehicle sales by 2026 and 100% by 2035. To implement the policy, California will need authorization in the form of a Clean Air Act waiver from the Environmental Protection Agency (EPA). If EPA grants the waiver, millions of American consumers—including many outside of California—could soon lose the option to buy the car or truck THEY want. President Biden and EPA Administrator Regan should reject California’s waiver request for multiple legal and policy reasons.

California Ban on Gas & Diesel Cars and Trucks Should Concern Every American

AFPM president and CEO Chet Thompson issued the following statement in response to a vote of the California Air Resources Board (CARB) approving California’s Advanced Clean Cars 2 regulation, establishing an escalating ban on the sale of gasoline and diesel-fueled cars and trucks, culminating with a 100% ban by 2035. "California’s radical ban on gasoline- and diesel-fueled cars and trucks will have devastating implications for consumers, energy security and the U.S. manufacturing economy. It is critical that President Biden and the EPA reject California’s request for a Clean Air Act waiver to proceed with this unlawful ban."