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.
The House of Representatives will soon vote on three pieces of legislation to rein in the federal Environmental Protection Agency (EPA) from (1) imposing and enabling de facto bans on new cars and trucks that run on liquid fuels and (2) from radically transforming the Renewable Fuel Standard (RFS) into a new nine-figure-government subsidy program for electric vehicles (EVs).
“Just as we were proud to testify in support of these bills last month, AFPM is proud to support the legislation being marked up today...As members review these bills carefully, appreciating exactly what they do and do not do, the choice to support them should be obvious, especially for those with fuel and petrochemical manufacturing facilities in their districts.” – Chet Thompson, AFPM President & CEO
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.
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.
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.
California has officially asked the Biden administration for permission to ban the sale of new gasoline and diesel vehicles by 2035—an unprecedented move that will deny millions of Americans the ability to choose for themselves the types of cars or trucks they want to drive. The decision is entirely up to President Biden...