NPRA Comments on the Re-Introduction of the Gas PRICE Act

NPRA, the National Petrochemical & Refiners Association, Executive Vice President Charles T. Drevna today commented on Senate Environment & Public Works Committee Ranking Member James Inhofe’s (R-Okla.) re-introduction of the Gas PRICE Act.

“We applaud Senator Inhofe’s efforts in re-introducing his legislation to increase domestic refining capacity, expand transportation fuel supplies, promote energy efficiency and encourage the development of cleaner fuels,” Drevna said. “While we are in the process of reviewing the latest version of the legislation, there’s no doubt that the nation needs additional refining capacity to meet the ever growing demand for gasoline.

“It’s important to note that over the last fourteen years, American refiners have, on the aggregate through expansions at existing facilities, constructed the equivalent of one new large-scale refinery each year. We’re continuing to meet consumers’ growing needs by continuously reinvesting billions of dollars in additional capacity and newer, cleaner technologies at our facilities each year.

“The difficulty lately has been the conflicting signals policymakers have been sending refiners. While Senator Inhofe’s legislation identifies the need and offers a solution for expanding domestic capacity, others, including the Administration, are seeking a significant reduction in the use of gasoline over the next ten years. Any manufacturer in any industry would pause to re-consider investments in new factories or plants to continue making a product that policymakers are seeking to limit in distribution.”

NPRA members include more than 450 companies, including virtually all US refiners and petrochemical manufacturers. Our members supply consumers with a wide variety of products and services used daily in their homes and businesses. These products include gasoline, diesel fuel, home heating oil, jet fuel, lubricants and the chemicals that serve as “building blocks” in making everything from plastics to clothing to medicine to computers.