WASHINGTON, D.C. – Members in the House and Senate, led by Sen. John Cornyn and Rep. Vicente Gonzalez, sent a letter this week to President Trump urging him to address issues of unfair market access for U.S. energy companies doing business in Mexico. Chet Thompson, President and CEO of AFPM, echoed these calls with the following statement.
U.S. refineries are the most complex in the world, allowing them to extract more value out of each barrel of oil than any other refining system globally. This competitive edge is made possible by access to global markets.
The United States is the now largest producer of crude oil and has the largest, most complex and most efficient refining industry in the world. Yet two of our most important oil trading partners are those that share our borders: Canada and Mexico.
The cost of Renewable Fuel Standard (RFS) compliance credits, specifically D6 renewable identification numbers (RINs), is out of control. Sales of D6 RINs for conventional ethanol recently registered above $1.90 (the highest trades in history).
Refineries are not the story when it comes to retail gasoline prices. Raw materials (in this case crude oil) account for the biggest share of the final price consumers pay.
The operator of an 800-ton crane at ExxonMobil’s Baton Rouge, Louisiana, polypropylene project construction site lowers a new 150-foot-tall reactor into place.
WASHINGTON, D.C. – AFPM President and CEO Chet Thompson issued the following statement on the agreement finalized today to end the OPEC+ oil price war.
We enter the official 2020 hurricane season in June with a full appreciation that this year brings additional challenges as our nation continues a fight against a different yet deadly type of storm.