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.
WASHINGTON, D.C. – AFPM released the following statement today in response to the President signing into the law the reauthorization of the Chemical Facility Anti-Terrorism Standards program.
Fuel supply limitations resulting from the impact of hurricanes and other natural disasters on infrastructure, for example, can lead to price increases as the market reacts to rebalance supply and demand.
Hurricane Ida knocked out power to over one million people and created devastation that will take months to address. But as soon as the storm passed, the fuel and petrochemical industries began stepping up with financial assistance, in-kind donations and in-person support to help affected communities recover and rebuild.
Limiting California’s access to the exact types of crude oil its facilities need will only increase prices for the state’s consumers and travelers. Drivers are already dealing with gasoline prices in excess of $5 per gallon and the highest fuel taxes of the 50 states. Confining energy producers and consumers to a smaller pool of crude oil will make a very sensitive price environment that much worse.
It’s been two and a half years since Congress granted the Department of Homeland Security’s Chemical Facility Anti-Terrorism Standards (CFATS) program long-term authorization.
The unprecedented disaster wrought by Hurricane Harvey has the safety of friends, family, colleagues and communities along the Gulf Coast weighing heavy on our minds and hearts.
Fuel supply restrictions resulting from hurricanes and other natural disasters, often lead to price increases as the market reacts to rebalance supply and demand. To protect consumers, many states have enacted price gouging laws that limit a merchant’s ability to raise prices during an emergency.