SPR releases cannot be the center of this Administration’s strategy to confront inflation and high energy prices. At best, SPR releases are a short-term fix, they are not a solution. Stability and certainty is what global crude oil markets crave.
AFPM President and CEO Chet Thompson and API President and CEO Mike Sommers sent a letter to President Biden responding to recent letters the Administration sent to major U.S. fuel refiners suggesting that these companies, their workforces and facilities throughout the country aren’t doing their part to bring fuel to the market and lower energy costs for consumers.
We are surprised and disappointed by the President’s letter. Any suggestion that U.S. refiners are not doing our part to bring stability to the market is false. We would encourage the Administration to look inward to better understand the role their policies and hostile rhetoric have played in the current environment.
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.
The U.S. refining industry is the most competitive in the world, which is a benefit to American households. Our complex facilities are uniquely suited to handle difficult-to-refine crude oil and other petroleum feedstocks that refineries elsewhere cannot process. This creates competitive advantage. At the same time, the United States is able to sell some of our higher-quality crude to countries that need it. This combination is powerful.
WASHINGTON, D.C. – American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson released the following statement ahead of the North American Free Trade Agreement (NAFTA) negotiating meetings in Mexico City beginning today:
WASHINGTON, D.C. – Today, Chet Thompson, President and CEO of the American Fuel & Petrochemical Manufacturers, made the following statement regarding the Administration’s announcement of tariffs on products made in Mexico.
2019 has ushered a slew of energy conferences to the oil- and gas-friendly state of Texas, and in some cases the media took issue with the lack of diversity — mainly women.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) is pleased to announce ExxonMobil’s Karen McKee—president of ExxonMobil Product Solutions Company—as the 2024 Petrochemical Heritage Award recipient for her outstanding contributions to the petrochemical community. McKee received the award today, March 25 during the International Petrochemical Conference in San Antonio, Texas hosted by AFPM.
This year’s AFPM International Petrochemical Conference (IPC) showcased the people, policies and trends shaping the future of the global petrochemical industry. Here’s a look at some of the many memorable moments.