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.
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.
WASHINGTON, D.C. – Statement from Chet Thompson, President and CEO of the American Fuel & Petrochemical Manufacturers (AFPM) on final passage of The Tax Cuts and Jobs Act:
WASHINGTON, D.C. – Statement from Chet Thompson, President and CEO of the American Fuel & Petrochemical Manufacturers (AFPM) on H.R.1, the Tax Cuts and Jobs Act, which passed in the U.S. House of Representatives today
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).
One of the societal byproducts of the COVID-19 pandemic has been an increased emphasis on technology to meet changing needs, and the fuel and petrochemical industries are no exception to that trend.