AFPM opposes the Inflation Reduction Act as written. We evaluated the bill against our core principles, specifically whether the legislation would support strong U.S. refining and petrochemical industries and whether it pursued emissions reductions in a market-based and cost-effective manner. Unfortunately, the IRA falls short of these goals.
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.
A duo of strong storms that swept through the United States has temporarily disrupted domestic fuel markets, but effective responses by the private and public sectors have limited the fallout from Hurricanes Harvey and Irma for Americans who need fuel critical for commerce.
WASHINGTON, D.C. – Statement from Chet Thompson, President and CEO of the American Fuel & Petrochemical Manufacturers (AFPM) on final passage of The Tax Cuts and Jobs Act:
WASHINGTON, D.C. – Statement from Chet Thompson, President and CEO of the American Fuel & Petrochemical Manufacturers (AFPM) on H.R.1, the Tax Cuts and Jobs Act, which passed in the U.S. House of Representatives today
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.
Drones are cutting edge technology that have received an uptick in attention over the last couple of years—gaining notoriety despite their beneficial commercial and recreational uses.
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.
We understand the threat that weather events can pose. Our nation’s refiners and petrochemical manufacturers have developed robust preparedness measures that can be taken in the event of a hurricane or extreme weather event.