Governor Gavin Newsom continues to blame fuel refiners for California’s highest-in-the-nation fuel prices. He couldn't be more wrong. The problem and solution to much of California’s fuel price challenge can be found in Sacramento policy. Take a look to better understand the role of policy in regional price differences, why it’s inaccurate to equate “margins” or “refinery cracks” with “profits,” and why windfall profit taxes are a known policy failure.
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.
In a new article, The New York Times attempts to vilify The American Fuel & Petrochemical Manufacturers for issue advocacy and lobbying around a proposed transportation policy.
AFPM supports the continuous drive to make our U.S. transportation fleet more fuel efficient. In fact, we see the fuel refining and petrochemical industries as critical partners in this effort.
