American Petroleum Institute

What do tanker routes have to do with gas prices? More than you might think. Longer shipping routes and higher freight rates are adding costs to global fuel markets. And that affects what we pay at the pump. API’s @T_Mason_H breaks it down.

RT @T_Mason_H: Reminder: There is one big exception to the current situation in energy markets - with high prices, tight supplies, etc. - it's U.S. natural gas.

Americans see the connection between permitting reform and affordability. 71% of voters agree permitting reform can help lower energy costs — and most Republicans, Democrats and independents support changes that would help critical energy infrastructure get built faster. More from @RCPolitics:

RT @mj_sommers: Great to be in Shreveport, LA where I’m standing 2 miles above one of the most important shale formations in North America. The Haynesville Shale produced ~1 of every 8 cubic feet of U.S. natural gas last year. And amid global disruption, it’s helping to keep economies all over the world supplied as a major source for U.S. LNG exports.

What’s driving higher fuel prices? ⛽📈 Refining outages overseas have reduced available supply, while disrupted shipping routes are making it more expensive to move fuel around the world. Meanwhile, U.S. refiners are running hard to add critical supply when it’s needed most.

RT @mj_sommers: More oil supply can ease pressure on energy markets, but it does not tell the whole story on fuel prices. Global refining remains strained and shipping costs are elevated, while U.S. refineries are running all out to produce record amounts of fuel and help fill the gap. More in API’s latest American Energy Snapshot:

The oil and natural gas industry invests more than $150 billion annually in production, infrastructure and operations — supporting 10.6 million U.S. jobs, generating billions for public services and strengthening America’s energy security for decades to come.

The Drake Well launched America’s oil industry. What comes next depends on our ability to keep building. API President & CEO @mj_sommers and @MarathonPetroCo President & CEO Maryann Mannen met in Titusville, PA, to discuss how a clearer, more predictable permitting process can unlock the infrastructure needed to power America’s energy future. @forumdrake

From the birthplace of America’s oil industry. API President & CEO @mj_sommers joined @MarathonPetroCo President & CEO Maryann Mannen at the @DrakeWellMuseum to discuss Pennsylvania’s energy legacy and Marathon’s deep roots in the region. @ForumDrake

Refineries don’t set fuel prices. So who does? Crude costs, tanker rates, refining and a global market all play a role. API’s @T_Mason_H breaks it down 💡

We applaud the @Europarl_EN vote to support a three-year delay of the EU Methane Regulation. This additional time is critical to establishing clear, workable compliance solutions while maintaining reliable energy supplies to our European allies. We urge EU policymakers to build on this progress and secure a final agreement that provides the long-term certainty industry needs.

RT @TheAXPC: Enacting durable permitting reform is one of the most consequential steps Congress can take to make life more affordable. Today, we joined a broad coalition of over 100 organizations urging Congress to pass the Bipartisan American Affordability and Jobs Act this year. For more ⬇️

RT @mj_sommers: In 1859, Edwin Drake drilled the first commercially viable oil well in America by adapting technology from salt drillers. His well launched the American oil and gas industry and a tradition of innovation that hasn’t stopped. Great to be back at the Drake Well this week!

A major coalition is lining up behind permitting reform. API joined 137 organizations in urging Congress to pass the Bipartisan American Affordability and Jobs Act this year.

Big win for American energy leadership! Thank you to @POTUS, @RepMikeKennedy and @SenMikeLee

SIGNED: My bill, the License to Drill Act, has officially been signed into law by @POTUS. For Utah and communities across the country, this legislation will reduce permitting delays, strengthen American energy production, help improve energy affordability, and support the U.S. in keeping up with growing energy demand. The future of American energy independence is bright.

“There are a lot of negative implications for these laws, for not only businesses but for the citizens of Europe." @USAmbEU discussed how burdensome EU regulations like CSDDD could undermine investment, weaken competitiveness and drive up energy costs in a conversation with @HudsonInstitute this morning

RT @T_Mason_H: Fluctuations in Middle East oil flows are only part of the story behind elevated fuel prices. Shipping routes are longer and more expensive, refining disruptions have reduced global supplies of diesel and other fuels, and U.S. refineries are already operating at exceptionally high rates. Together, these pressures are keeping fuel markets tight and contributing to higher prices and refining margins. Shipping Routes: Some tankers bound for Asia are sailing all the way around Africa. Others take on crude offshore, from one tanker to another, rather than at a port terminal — a handoff that now takes close to 10 days, up from five to seven before the war.

After more than a decade of debate over permitting reform, now is the time to get it done. @EnergyUnderSec @DrakeWellMuseum @ForumDrake @ENERGY