News

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."

Earnings in commodities-based industries tend to be cyclical. Because of the up-and-down reality of refining, it would be a mistake to regulate or legislate based on the high points. A few quarters of earnings don’t provide an accurate representation. That context is important for answering the question of what happens with refinery profits and whether using earnings to “buy back” stock from shareholders is an appropriate use of those funds.

The American Fuel & Petrochemical Manufacturers (AFPM) today released a new video highlighting the safety approach and measures used by U.S. refineries with hydrofluoric acid (HF) alkylation units.

AFPM President and CEO Chet Thompson issued the following statement in response to the White House’s latest announcement of a release of crude oil from the SPR: “The SPR was never meant to serve as a substitute for actual crude oil production. At best, SPR releases are a short-term fix, not a long-term solution or signal of stability to a market craving reassurance..."

The American Fuel & Petrochemical Manufacturers (AFPM) and American Petroleum Institute (API) today released the following statement after a meeting that included Secretary of Energy Jennifer Granholm, senior White House officials and leaders of the top U.S. refining companies

The U.S. petrochemical industry has a crucial and enduring role to play in meeting the needs of a growing world population while simultaneously fulfilling the imperative to produce petrochemicals in a sustainable and clean manner.

“Refiners and petrochemical manufacturers are relieved that the two sides were able to come to agreement and avert what would have been a disastrous event for our economy and energy security."

American Fuel & Petrochemical Manufacturers (AFPM) President and CEO Chet Thompson today sent a letter to Congressional leadership—Speaker Nancy Pelosi, Senate Majority Leader Chuck Schumer, Senate Minority Leader Mitch McConnell and House Minority Leader Kevin McCarthy—urging their intervention to avoid a rail worker strike that could begin as soon as this Friday, September 16.

AFPM president and CEO Chet Thompson issued the following statement in response to a vote of the California Air Resources Board (CARB) approving California’s Advanced Clean Cars 2 regulation, establishing an escalating ban on the sale of gasoline and diesel-fueled cars and trucks, culminating with a 100% ban by 2035. "California’s radical ban on gasoline- and diesel-fueled cars and trucks will have devastating implications for consumers, energy security and the U.S. manufacturing economy. It is critical that President Biden and the EPA reject California’s request for a Clean Air Act waiver to proceed with this unlawful ban."