As petrochemicals and recycling advancements give old plastic new life over and over again—from shoes and clothes made of recycled plastic recovered from the ocean, to plastic bottles being chemically recycled into fuel and a raw material to make new petrochemicals—what it means to “recycle” is changing right before our eyes.
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.
The U.S. petrochemical industry has a crucial and enduring role to play in meeting the needs of a growing world population while simultaneously fulfilling the imperative to produce petrochemicals in a sustainable and clean manner.
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. – American Fuel & Petrochemical Manufacturers (AFPM) President Chet Thompson released the following statement in response to President Obama’s State of the Union address:
AFPM director of transportation and infrastructure, Rob Benedict, discusses the potential impacts proposed steel tariffs would have on the fuels and petrochemical industries.
Russian crude oil accounts for just three percent of U.S. crude oil imports and about one percent of total crude oil processed by U.S. refineries. Even still, Russian crude oil imports are important to refineries on the West Coast and Gulf Coast for some distinct reasons. Read more on this topic from AFPM’s industry analysts in their recent assessment: “U.S. Imports of Crude Oil and Petroleum Products from Russia.”
AFPM supports the people of Ukraine against Russia’s unprovoked acts of war. These acts of aggression are unacceptable and should be met with fierce opposition. AFPM fully supports the suspension of all future purchases of crude oil and petroleum products from Russia. To protect consumers, however, any import prohibition should exempt products currently in transit to the United States.
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.