AFPM clarifies stance on proposed repeal of crude oil export ban

The American Fuel & Petrochemical Manufacturers will oppose any legislation that includes new energy tax subsidies in exchange for lifting the ban on exports of US-produced crude oil, AFPM Pres. Chet M. Thompson said.

“AFPM supports free markets, and as such, does not oppose lifting the crude export ban,” he said in an Oct. 20 letter to US Senate Majority Leader Mitch McConnell (R-Ky.). “We also believe that Congress should repeal other market-distorting policies, such as the Renewable Fuel Standard and the Jones Act.

“AFPM, however, will not compromise one free-market principle to secure another, and thus we would vigorously oppose any agreement or legislation linking the lifting of the crude export ban with new or extended energy subsidies, mandates, or taxes,” Thompson said.

Contact Nick Snow at nicks@pennwell.com.

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