WASHINGTON, D.C. — American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson today issued the following statement in response to the Surface Transportation Board’s (STB) unanimous decision to reject the latest Class 1 freight rail merger application, in the absence of required information.
“As the largest proposed rail merger in U.S. history, the first major transaction the Board will decide under its 2001 merger rules, and a merger likely to trigger a complete restructuring of the North American rail industry, there is absolutely no margin for error.
“If approved, this merger could have potentially huge ramifications for U.S. refiners, petrochemical manufacturers and all domestic manufacturing. We’re glad STB took action to request more information, as it's imperative that the Board be guided by a full set of facts and apply scrutiny when evaluating the impacts. AFPM looks forward to continued engagement on this issue once the complete application is re-filed.” — 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.
