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.
America’s refining and petrochemical community employs and supports over three million people, hiring individuals from all education levels to fill a wide range of positions (such as welders, electricians, chemists, and engineers).
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.
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.
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.
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.
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.