WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) released the following statement after the House of Representatives passed H.R. 5729, the Transportation Worker Identification Credential Accountability Act of 2018
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.
Oil markets are famously sensitive to uncertainty. Global conflict can send prices higher on concerns that crude oil supplies could be disrupted. This is playing out in response to Russia’s unprovoked acts of war against Ukraine. Russia is a major supplier of crude oil and other energy products globally, though less so in the United States. In recent days, many market participants have committed to stop purchasing Russian oil. Shipping companies are concerned about loading cargoes from Russia and some shippers are finding the cost associated with such cargoes too high. These moves are tightening an already tight market.
WASHINGTON, D.C. – “The President’s proposal to waive the rules for E15 is unlawful and could actually make the problems of the Renewable Fuel Standard worse.
It’s been two and a half years since Congress granted the Department of Homeland Security’s Chemical Facility Anti-Terrorism Standards (CFATS) program long-term authorization.
By an act of Congress and with the stroke of a pen, the Federal Aviation Administration’s (FAA) programs will continue to receive funding for the next 14 months.
Drones are cutting edge technology that have received an uptick in attention over the last couple of years—gaining notoriety despite their beneficial commercial and recreational uses.
A central theme running through the “Better Deal” economic policy agenda that the Democratic Party rolled out this week is the importance of creating—and protecting—good-paying jobs – jobs that will help boost middle-class incomes and create new economic opportunities nationwide.
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.