US fuel, chemical industry facing challenging but exciting time

18 March 2013 05:33  [Source: ICIS news]

SAN ANTONIO, Texas (ICIS)--The American Fuel & Petrochemical Manufacturers (AFPM) said on Sunday that this is a challenging but exciting time for the industry.

“We’re all becoming very optimistic about the future, and in between innovation and investment, there’s a lot of exciting things going on,” AFPM chairman Jim Mahoney said during a news conference before the group’s annual meeting.

AFPM president Charles Drevna said the US is at a fork in the road, and there are a lot of tough decisions that will impact which way the country will go.

“Are we going to have a manufacturing renaissance, whether we’re going to have jobs recreated in this country, whether we’re going to have economic stability, whether we’re going to have energy and national security,” Drevna said.

“Or are we going to take the path that it seems like with a very pronouncement, whether it’s legislative regulatory or executive board that turns a blind eye to the bounty of natural resources we have here in the country, that turns its back on friends and neighbours in Canada, that continues to try to create winners and loser in the market place rather than letting free market dictate who the winners and losers will ultimately be.”

Drevna said with issues such as the proposed Keystone XL Pipeline or ethanol and other renewable energies, the US needs to address these problems now before other countries are able to develop the same resources.

He added that the US has made some progress, but it still has a “long, long way to go”.

AFPM’s annual meeting runs from Sunday through Tuesday.

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By: Tracy Dang
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