WASHINGTON, D.C. — American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson issued the following statement on the resubmission of the largest Class 1 freight rail merger application with the Surface Transportation Board (STB).
“Further consolidation of the U.S. freight rail system would carry significant consequences for American refiners, petrochemical manufacturers and the broader economy. Our members rely on timely, affordable and competitive rail service to produce the fuels and essential products Americans depend on every day. But history shows consolidation has, too often, led to higher rates, longer transit times and reduced service. AFPM urges the Surface Transportation Board to apply rigorous scrutiny to this latest merger application for the sake of rail competition, reliability and affordability for both American shippers and consumers.” — Chet Thompson, AFPM President and CEO
For more information on the importance of freight rail to the U.S. energy and petrochemical sectors and the decline of both quality service and competition in the freight rail space, see these AFPM resources:
- Why freight rail competition matters to American energy manufacturers and consumers
- Continued consolidation of U.S. Class 1 freight rail
- Reciprocal switching needed to address lack of freight rail competition & years of poor service
- Freight rail in America: Can a market be ‘free’ if there’s almost no competition?
- Freight rail reform: Moving America’s economy
The American Fuel & Petrochemical Manufacturers (AFPM) is the leading trade association representing the makers of the fuels that keep us moving, the petrochemicals that are the essential building blocks for modern life, and the midstream companies that get our feedstocks and products where they need to go. We make the products that make life better, safer and more sustainable — we make progress.
