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.
A legal representative for numerous U.S. small refineries has submitted a letter to the Environmental Protection Agency opposing calls for the agency to share confidential business information of small refineries with the U.S. Secretary of Agriculture.
Oil markets are famously sensitive to uncertainty. Global conflict can send prices higher on concerns that crude oil supplies could be disrupted. This is playing out in response to Russia’s unprovoked acts of war against Ukraine. Russia is a major supplier of crude oil and other energy products globally, though less so in the United States. In recent days, many market participants have committed to stop purchasing Russian oil. Shipping companies are concerned about loading cargoes from Russia and some shippers are finding the cost associated with such cargoes too high. These moves are tightening an already tight market.
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.
In late July, Congress allowed a valuable program that enhances security at chemical facilities across the country to expire. The program is called the Chemical Facility Anti-Terrorism Standards (CFATS), and its primary mission is to protect chemical facilities from potential terror threats by addressing a wide range of possible vulnerabilities, including cyberattacks.
By an act of Congress and with the stroke of a pen, the Federal Aviation Administration’s (FAA) programs will continue to receive funding for the next 14 months.
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.
All eyes are on Hurricane Ian, which is expected to approach Florida’s west coast later Wednesday and into Thursday bringing high winds and massive amounts of rain. Although our nation’s refiners and petrochemical manufacturers do not have facilities in the affected region, we’d like to urge the people in the area to prepare for the storm and heed all evacuation notices. Florida residents can get critical preparedness and evacuation information here .
U.S. fuel and petrochemical manufacturers are committed to doing their part to limit the spread of COVID-19 while maintaining the core services and functions our nation requires daily.
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.