For the next few weeks, we’ll be doing an experiment — I’ll be sending this newsletter on Mondays instead of Fridays. My hope is to reach you at a time that’s more convenient and to give people a chance to share content during the week. What do you think? Is there a day or time we should send this newsletter in the future? You can reply to this email to let me know.
This week we have a couple shareable graphics that answer a question I bet many of you have been asked: Why does the U.S. import crude oil?
Reason #1: Crude quality
Reason #2: Crude volume
For more in-depth information about imports and tariffs, you can access our explainer here. Feel free to borrow the graphics above and share on your own accounts!
Happy Monday!
-Charlie and the AFPM EMPOWER team
Have ideas for content, comments, or questions? You can reach me at charlie@afpm.org.
What we’re reading this week
Canada Is America's Real Oil Reserve - Bloomberg
Refilling the Strategic Petroleum Reserve was a Day One objective for President Donald Trump…. Doing so as Trump also wages economic warfare against Canada, however, is a bit like filling a couple of jerry cans with fuel while also setting a match to your local gas station.
Lee Zeldin: EPA Ends the ‘Green New Deal’ - The Wall Street Journal
Yesterday was the most consequential day of deregulation in American history. Alongside President Trump, we announced that the Environmental Protection Agency will take 31 actions to advance his day-one executive orders and power the Great American Comeback.
Republicans Introduce Bill To Block California's EV Mandate - The Washington Free Beacon
House and Senate Republicans are introducing legislation Friday modifying the Clean Air Act of 1970 to revoke California's authority to issue vehicle emissions rules that are stricter than federal rules.
Hochul should scrap New York’s gas car ban - FOX News
Starting in model year 2026 – right now for automakers – New York, California, Oregon, Washington State, Massachusetts and Vermont require 35 percent of new vehicles sold in the state to be electric.
Wall Street Braces for Oil in $60s Range on Tariff, OPEC+ Risks - Bloomberg
Goldman initially stuck with previous price projections when OPEC+ confirmed plans to increase oil production earlier this month, but with US economic growth under mounting pressure, the bank lowered its outlook price in a note. Its expected range for Brent was reduced to $65-$80 a barrel from $70-$85.
Infographic - Strategic Petroleum Reserve - U.S. Department of Energy
The Strategic Petroleum Reserve (SPR) is the world's largest supply of emergency crude oil. Administered by the U.S. Department of Energy, these federally-owned oil stocks are stored in massive underground salt caverns along the Texas and Louisiana coastlines of the Gulf of Mexico.
Advanced Recycling: Profits In the Process of Abundant Plastic Creation - RealClear Markets
Now, we see a modern moonshiner that is caught in a legal grey area, and while their product isn’t quite as exciting as a pint of white lighting, advanced recyclers are trying to produce something that we can all use – plastic – while also helping the environment.
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