WASHINGTON, D.C. – This decision by the Canadian government to designate plastic manufactured items as “toxic” is unwarranted and not based in science.
One of the societal byproducts of the COVID-19 pandemic has been an increased emphasis on technology to meet changing needs, and the fuel and petrochemical industries are no exception to that trend.
AFPM recently voiced its disappointment at the decision by the U.S. Supreme Court not to hear ExxonMobil’s challenge to the New Hampshire Supreme Court’s decision to uphold a $236 million judgment against the company’s use of Methyl Tertiary Butyl Ether (MTBE) in the state’s gasoline supply in the 1990s.
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.