Refiners Praise USTR Ambassador Tai’s Move to Address Mexico’s Energy Policies
AFPM President and CEO Chet Thompson issued the following statement: "AFPM applauds the United States Trade Representative (USTR) for elevating this important matter. Mexico’s policies toward American energy companies need to be addressed in the spirit of the United States-Mexico-Canada trade agreement (USMCA). American refiners have made significant investments in Mexico-based operations, jobs and infrastructure and we want our trade relationships with Mexico to remain healthy and mutually beneficial.”
What to Keep in Mind re. Updates to EPA’s Risk Management Plan
With the possibility that the EPA and policymakers could make updates to the Risk Management Plan (RMP) program, there are three things we encourage them to keep in mind: 1. RMP is working as intended and keeping people safe. 2. Any changes to RMP must be evidence-based and actionable. 3. Using RMP to zero in on hydrofluoric acid (HF) alkylation at refineries could have major impacts on U.S. fuel supplies.
What They’re Saying: Experts Examine How Export Bans Could Drive Up Fuel Prices and Risk Closing Refineries
The U.S. refining sector is the most competitive and resilient in the world. Participation in the global market benefits U.S.
Refinery Earnings Are Up. Why?
The return of fuel demand to pre-pandemic levels and the slower rebound of crude oil and fuel production has created concerns about whether supplies of gasoline, diesel and jet fuel will be sufficient to meet global demand. U.S. refineries are up and running at near maximum utilization. Other major refining countries, for a variety of reasons, have not kept pace bringing their facilities back into operation or resuming sales of fuel to the market. As a result, wholesale fuel prices have increased and so have refinery “crack spreads."
*Updated* SPR Releases Cannot be the Center of This Administration’s Strategy
A Strategic Petroleum Reserve (SPR) release—which basically involves making additional barrels of crude oil available for sale to the world market—is meant to increase global supply. Meeting today’s demand with more supply is a recipe for lower prices. The United States released millions of barrels from our SPR in the past several months, as did many other countries.
Refinery Utilization 101: The Other Half of the Capacity Story
Refinery utilization, measures how much crude oil refineries are processing or “running” as a percentage of their maximum capacity. It tells us roughly how much of our refining muscle is being put to work manufacturing fuel. American refineries are running full-out, at about 95% of total capacity, contributing more fuel—gasoline, diesel, jet fuel, etc.—to the global market than any other country. In fact, U.S. refineries process more crude oil every day than the United States produces, and we make more finished fuels than the United States consumes.
Restricting Exports Will Increase Prices for Consumers & Harm U.S. Refineries
Some policymakers are rumored to be considering a ban on crude oil and/or U.S. refined product exports. This would be a mistake. Ending U.S. crude oil or refined product exports won’t help U.S. consumers by lowering prices at pump. In fact, it could make things even worse. Let’s take a closer look at how a refined product export ban would affect gasoline and diesel supplies and, thus, prices in the United States and around the world.
AFPM Petitions for Review of Federal Fuel Economy Rule
AFPM supports the continuous drive to make our U.S. transportation fleet more fuel efficient. In fact, we see the fuel refining and petrochemical industries as critical partners in this effort.
API, AFPM Joint Statement on Sec. Granholm's Meeting with U.S. Refiners
WASHINGTON — American Fuel & Petrochemical Manufacturers (AFPM) and the American Petroleum Institute (API) released the following joint stateme