H.R. 3109: Researching Efficient Federal Improvements for Necessary Energy Refining Act

This bill, known as the Researching Efficient Federal Improvements for Necessary Energy Refining Act (or REFINER Act), outlines a requirement for the Secretary of Energy to take action regarding petrochemical refineries in the United States. Specifically, within 90 days of the bill becoming law, the Secretary is tasked with directing the National Petroleum Council to prepare and submit a detailed report addressing several key areas related to these refineries.

Key Components of the Report

The report must cover the following aspects:

1. Role and Contribution: An examination of how petrochemical refineries contribute to the energy security of the United States. This includes evaluating the reliability of liquid fuel supplies and their affordability for American consumers.
2. Capacity and Expansion Opportunities: An analysis of the current capacity of U.S. petrochemical refineries, potential opportunities to increase this capacity, and identification of any associated risks.
3. Regulatory Impact: An assessment of federal or state regulations or policies that may have negatively affected the capacity of these refineries.
4. Recommendations: Suggestions for federal agencies and Congress on how to promote an increase in the capacity of petrochemical refineries in the United States.

Additionally, the completed report must be made publicly accessible to ensure transparency and inform relevant stakeholders about the findings and recommendations made regarding the petrochemical refining sector.

Purpose of the Bill

The overarching goal of the REFINER Act is to improve understanding and support for the petrochemical refining industry in the U.S., aiming to enhance energy security and address any challenges faced by refineries through informed policy recommendations.

Relevant Companies

• XOM - Exxon Mobil Corporation: As one of the largest petrochemical companies, ExxonMobil could be impacted by recommendations for increased refining capacity.
• CVX - Chevron Corporation: Another major player in the petrochemical industry, potential regulatory changes could affect Chevron’s refining operations.
• PSX - Phillips 66: This company operates several refineries in the U.S. and could be influenced by findings relating to refinery regulations.