AFPM President and CEO Chet Thompson issued the following statement regarding President Biden’s suggestion that a Windfall Profit Tax should be considered to address fuel supplies and prices: “Once again, the President is more worried about political posturing before the Midterms than he is about advancing energy policies that will actually deliver for the American people."
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.
AFPM President and CEO Chet Thompson issued the following statement on the Environmental Protection Agency’s (EPA’s) proposal of light- and heavy-duty vehicle GHG emission standards: "EPA's proposal to effectively ban gasoline and diesel vehicles is bad for consumers, the environment, our freedom of mobility and U.S. national security. It’s unconscionable that the Administration would propose this knowing full well that China controls 80% of global battery production capacity..."
Experts are predicting this year’s season to be similar to last or even a little less severe, with Colorado State University Tropical Forecast calling for 13 named storms, six hurricanes and two category 3 or higher hurricanes. And as they do every year, refining and petrochemical companies are doing their part to ensure they are prepared for every possible scenario and batting down the hatches, if you will.
In a tight refined product market it has been U.S. refiners that have stepped up. Our industry ran full-out for most of 2022 making sure American consumers, our domestic economic centers and our allies had enough gasoline, diesel and jet fuel to keep everyone moving. Our refining sector leads the world in liquid fuel production and is effectively doing more than any other to bring better balance to the global market.
U.S. refining capacity increased to more than 18.8 million barrels per day as of January 1, 2019, the highest capacity on record, according to a new report issued by the Energy Information Administration.
Visit AFPM’s Hurricane and Weather Event Resource Center for more information on steps being taken to ensure the safety of our members’ facilities, their employees and the communities that surround them.
As we head into the Memorial Day weekend, the unofficial start of the summer driving season, many begin to pay closer attention to gasoline prices. This should be no surprise since over 37 million...
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.
