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

“US refiners and administration officials met to discuss current market imbalances and our industry’s ongoing work to efficiently and affordably supply fuel to the US market. As the administration refuses to rule out limitations on exports, we shared the significant unintended consequences that would come with such a policy, including potential cost increases, refinery closures, job losses and productivity declines.

“The administration continues to govern with contradictory energy policies and rhetoric. On the one hand committing to provide energy resources to our allies while at the same time threatening limitations on exports, talking about the need for permitting reform to accelerate critical energy infrastructure while actively cancelling pipelines, talking about the need for more supply while restricting access to additional federal oil and gas leasing, talking about reducing costs while increasing taxes on domestic producers during a time of historically high inflation.

“The focus of this administration should not be on trapping product in the United States or diverting fuel away from retail sales and into storage, but rather, on how to better produce and more affordably move US product within the United States. The oil and natural gas industry stands ready to continue to meet US consumers’ needs for affordable, reliable energy while supporting our allies around the world.”

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6th October 2022