This week, AFPM joined API and industry associations representing fuel retailers, gasoline marketers, convenience stores and tank truck carriers to field questions from the media about the ongoing fuel distribution challenges resulting from the Colonial Pipeline shutdown.
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.
Although President Obama’s controversial Clean Power Plan (CPP) has been debated at length for several months, its legal failings finally came under the microscope during oral argument in W Virginia et al. v EPA et al. in the DC Circuit Court of Appeals on September 27.
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.
In today’s world of cyber attacks against companies, the idea of sharing information between companies on cyber developments and incidents is becoming more critical.
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.
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.
All eyes are on Hurricane Ian, which is expected to approach Florida’s west coast later Wednesday and into Thursday bringing high winds and massive amounts of rain. Although our nation’s refiners and petrochemical manufacturers do not have facilities in the affected region, we’d like to urge the people in the area to prepare for the storm and heed all evacuation notices. Florida residents can get critical preparedness and evacuation information here .
Nine U.S. senators today called on the administration to uphold the law and ensure that qualified small refineries continue to have protection from disproportionate economic hardship brought on by the Renewable Fuel Standard (RFS).
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.