The petroleum industry has always been dynamic and subject to both international and domestic events that require flexibility and change. However, change has been dramatic for the U.S. industry over the last decade, driven mainly by increasing North American oil and gas production and by shifting consumer demand. These factors — combining both challenge and opportunity — have affected all petroleum sectors including America’s fuel and petrochemical manufacturers.
For the energy industry, continuous change has become the ‘new normal’ and will likely remain so for years to come. The challenge is to effectively deal with change. The United States has demonstrated its ability to do so, fully supplying domestic markets while establishing itself as a net exporter of petroleum products.
At the same time, the U.S. has seized the opportunity to become the world’s top producer of oil and natural gas. AFPM members will continue to evolve and redefine themselves, as they always have, to meet consumer needs and to contribute positively to economic growth on global, national and local levels.