In late July, Congress allowed a valuable program that enhances security at chemical facilities across the country to expire. The program is called the Chemical Facility Anti-Terrorism Standards (CFATS), and its primary mission is to protect chemical facilities from potential terror threats by addressing a wide range of possible vulnerabilities, including cyberattacks.
U.S. fuel and petrochemical manufacturers are committed to doing their part to limit the spread of COVID-19 while maintaining the core services and functions our nation requires daily.
Publicly owned companies, like many U.S. refineries, have a fiduciary responsibility (which is a legal obligation) to act in the best interest of their shareholders, and that extends to how companies spend their earnings. Often, earnings are spent on a combination of the following: direct dividends, stock buy back programs, paying down debt and capital investment projects.