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.
EPA’s blanket denial of relief for small refineries is a political decision that contradicts Congress’s design for the RFS. We are deeply disappointed in this and in the precedent it sets for small refineries experiencing hardship and the communities and regions that rely on these facilities for energy security.
Publicly owned companies, like many U.S. refineries, have a fiduciary responsibility (which is a legal obligation) to act in the best interest of their shareholders, and that extends to how companies spend their earnings. Often, earnings are spent on a combination of the following: direct dividends, stock buy back programs, paying down debt and capital investment projects.
AFPM President and CEO Chet Thompson issued the following statement in response to President Biden’s State of the Union address: "Using the State of the Union to politicize market fundamentals and single out stock “buy back” programs—while overlooking the fact that the Biden administration’s own policies discourage the reinvestment of earnings back into the U.S. liquid fuel supply chain—cheapens the dialog for everyone."
WASHINGTON, D.C. — A new survey from the non-partisan Mason-Dixon Polling & Strategy, Inc. finds nearly 60 percent of Virginians believe the General Assembly should repeal the 2021 law that imposes California’s new car mandates on the Commonwealth. Only 30 percent are against repeal.
WASHINGTON, Sept. 28, 2023—American Fuel & Petrochemical Manufacturers (AFPM) Senior Director of Fuels & Vehicle Policy Patrick Kelly today testified before the National Highway Traffic Safety Administration against its proposal on two vehicle groups that serves as a de facto ban on internal combustion engine vehicles.
You may have seen that AFPM is shining a spotlight on the Commonwealth of Virginia and its unlikely tie to California’s looming ban on gasoline and diesel vehicles. Allow us to explain why, and also to lay out the current state of vehicle mandates and bans in Virginia.
WASHINGTON, D.C. – The American Fuel and Petrochemical Manufacturers (AFPM) today launched the first TV ad in its issue campaign to raise awareness and build support for repealing the 2021 law that requires Virginia to enact California’s electric vehicle mandates and bans on sales of new internal combustion engine vehicles.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) today launched a TV ad highlighting Senator Monty Mason’s decisive vote to keep Virginia aligned with California on the road to banning sales of new gas and diesel cars and trucks.
WASHINGTON, D.C., October 19, 2023—American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson issued the following statement in support of the Choice in Automobile Retail Sales (CARS) Act introduced by Senators Mike Crapo (R-ID) and Pete Ricketts (R-NE).
