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American Fuel & Petrochemical Manufacturers represents the makers of the fuels that keep us moving and the petrochemical building blocks for modern life.
Washington, D.C.
Joined April 2011
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AFPM President and CEO @CThompsonAFPM issued a statement on the Trump administration’s release of a final rule for revised 2027-2031 CAFÉ Standards:
“The CAFE program is now getting back to what the law actually says, doing what it was always meant to do: support a more efficient vehicle fleet where consumers have access to the types of cars and trucks they want to drive and can afford.”
He also cautioned that any cost-savings for consumers from this rule could be severely undercut by a fuel export ban.
More perspectives on why a diesel export ban would be a costly mistake:
(the fact we have so many of these to share tells you all you need to know about why an export ban would backfire)
“[A diesel export ban would] discourage investment in U.S. upstream and downstream/refining just when the world will need it the most since demand isn’t going to peak soon and the Middle East has a new and big security challenge.”
— @Bob_McNally, @RapidanEnergy
According to @WoodMackenzie's analysis, a diesel export ban would “raise gasoline prices on the US east coast by about 15%, relative to our base case. That translates to an increase of about 26 US cents a gallon, pushing US gasoline prices towards record highs.”
Why would a diesel export ban backfire? It would:
1. Reduce fuel production
2. Weaken U.S. energy security
3. Help foreign competitors
4. Risk retaliation
AFPM retweeted
Experts universally agree: A diesel export ban would backfire.
Less refinery output. Tighter fuel supplies. More pressure on gasoline and diesel prices.
A diesel export ban may sound like a way to lower fuel costs.
It won’t.
It could actually raise gasoline prices. Here’s why:
4. Less gasoline means higher prices
Here's where basic supply and demand comes into play: When refiners cut production because they have nowhere to send surplus diesel, they also produce less gasoline, putting upward pressure on gasoline prices.
