A Strategic Petroleum Reserve (SPR) release—which basically involves making additional barrels of crude oil available for sale to the world market—is meant to increase global supply. Meeting today’s demand with more supply is a recipe for lower prices. The United States released millions of barrels from our SPR in the past several months, as did many other countries.
The United States has the most complex and efficient refining industry in the world, but we also have less refining capacity than we used to. Where the issue of refining capacity is concerned, it’s important to understand what refining capacity is, why we’ve lost capacity in the United States and how policies can advance the competitiveness of our refineries in the global market.
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.
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.
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.