The American Fuel and Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson and American Petroleum Institute (API) President and CEO Mike Sommers today sent a letter to U.S. Secretary of Energy Jennifer Granholm raising significant concerns that the administration could pursue a ban or limits on refined petroleum products. “Banning or limiting the export of refined products would likely decrease inventory levels, reduce domestic refining capacity, put upward pressure on consumer fuel prices, and alienate U.S. allies during a time of war,” Thompson and Sommers wrote.
There aren’t many production facilities in the country more secure than refineries. Leaders in the fuel and petrochemical industries pride themselves on workplace safety and security, which is evident based on even a cursory glance at any AFPM member’s annual security report.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) filed a petition for review in the U.S. Court of Appeals for the D.C. Circuit, challenging the Surface Transportation Board’s (STB) dismissal of its complaint against the unlawful surcharge imposed by BNSF Railway Company on DOT-111 tanks cars carrying crude oil.
WASHINGTON, D.C. – Statement by American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson on the announcement of the U.S. State Department approval of the cross-border permit to advance Keystone XL pipeline.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers’ (AFPM) President Chet Thompson remarks on the Obama Administration’s decision to deny the permits needed to complete the last leg of the Dakota Access Pipeline.
Boyd Stephenson, senior vice president of government affairs and counsel at the National Tank Truck Carriers (NTTC), joins the podcast to discuss the trucking industry and US highway infrastructure.
Russian crude oil accounts for just three percent of U.S. crude oil imports and about one percent of total crude oil processed by U.S. refineries. Even still, Russian crude oil imports are important to refineries on the West Coast and Gulf Coast for some distinct reasons. Read more on this topic from AFPM’s industry analysts in their recent assessment: “U.S. Imports of Crude Oil and Petroleum Products from Russia.”
SPR releases cannot be the center of this Administration’s strategy to confront inflation and high energy prices. At best, SPR releases are a short-term fix, they are not a solution. Stability and certainty is what global crude oil markets crave.