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.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) supports Senator Jim Inhofe’s (R-OK) Congressional Review Act resolution to disapprove the Environmental Protection Agency’s (EPA) Risk Management Program (RMP) rule.
WASHINGTON, D.C. – The American Fuel & Petrochemical Manufacturers (AFPM) filed comments on the U.S. Environmental Protection Agency’s proposed amendments to the Risk Management Program (RMP) of the Clean Air Act asking it to withdraw the proposal.
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.
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.
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.
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.
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.
As Hurricane Florence approached the East Coast this week, nearly two million residents throughout the Carolinas, Maryland and Virginia were placed under evacuation watch.