AFPM opposes the Inflation Reduction Act as written. We evaluated the bill against our core principles, specifically whether the legislation would support strong U.S. refining and petrochemical industries and whether it pursued emissions reductions in a market-based and cost-effective manner. Unfortunately, the IRA falls short of these goals.
Restricting exports would be a major unforced error for the President, tightening global fuel supplies, throttling U.S. fuel production and increasing costs for American consumers. Likewise, imposing product inventory requirements boils down to siphoning gasoline and diesel into storage, and away from consumers.
I remember a few years ago when we were discussing a new regulatory approach being proposed in Europe that would put more of the burden of ensuring chemical safety on industry. It was touted by...
To produce essential goods for U.S. and global consumers, AFPM members need a safe, reliable and efficient rail system to move materials to and from refineries and petrochemical facilities.