AFPM President and CEO Chet Thompson issued the following statement regarding President Biden’s suggestion that a Windfall Profit Tax should be considered to address fuel supplies and prices: “Once again, the President is more worried about political posturing before the Midterms than he is about advancing energy policies that will actually deliver for the American people."
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.
"AFPM is extremely disappointed that the Chemical Facility Anti-Terrorism Standards (CFATS) program was allowed to expire and strongly urges the Senate to pass H.R. 4470 as soon as possible so that our members can resume their longstanding, collaborative relationship with the Department of Homeland Security (DHS) via the CFATS program. Our industries remain committed to providing the best security possible while the program’s regulations remain unauthorized.."
Eight midwestern governors have petitioned the EPA seeking to opt their states out of the federal 1-pound Reid Vapor Pressure (RVP) waiver which is a requirement to sell the current summertime blend of E10 gasoline. If these requests are granted, the E10 gasoline currently sold in most of the country during summer months will no longer be offered for sale in these states and annual costs to introduce a new gasoline bend will range from $500-$800 million each year.
In a tight refined product market it has been U.S. refiners that have stepped up. Our industry ran full-out for most of 2022 making sure American consumers, our domestic economic centers and our allies had enough gasoline, diesel and jet fuel to keep everyone moving. Our refining sector leads the world in liquid fuel production and is effectively doing more than any other to bring better balance to the global market.
WASHINGTON, D.C. — American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson issued the following statement on the inauguration of the 47th President of the United States and the opportunity to advance policies that deliver for American energy manufacturers and consumers:
U.S. refining capacity increased to more than 18.8 million barrels per day as of January 1, 2019, the highest capacity on record, according to a new report issued by the Energy Information Administration.
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).
A legal representative for numerous U.S. small refineries has submitted a letter to the Environmental Protection Agency opposing calls for the agency to share confidential business information of small refineries with the U.S. Secretary of Agriculture.
Visit AFPM’s Hurricane and Weather Event Resource Center for more information on steps being taken to ensure the safety of our members’ facilities, their employees and the communities that surround them.
