AFPM President & CEO Chet Thompson sent a letter House Speaker Nancy Pelosi and Minority Leader Kevin McCarthy expressing AFPM’s opposition to H.R. 7688, the Consumer Fuel Price Gouging Prevention Act.
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.
Limiting California’s access to the exact types of crude oil its facilities need will only increase prices for the state’s consumers and travelers. Drivers are already dealing with gasoline prices in excess of $5 per gallon and the highest fuel taxes of the 50 states. Confining energy producers and consumers to a smaller pool of crude oil will make a very sensitive price environment that much worse.
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.
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).
The beginning of fall once again marks the start of another school year filled with endless possibilities for wide-eyed students eager to learn. For AFPM, the beginning of the school year is yet...
WASHINGTON, D.C. – This decision by the Canadian government to designate plastic manufactured items as “toxic” is unwarranted and not based in science.
