API seeks to protect oil from Trump tariffs
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The CEO of the American Petroleum Institute spoke about fuel costs and artificial intelligence at a conference Thursday.
Mike Sommers, CEO of the American Petroleum Institute. Mike Sommers, CEO of the American Petroleum Institute. Nathan Howard/AP
The CEO of the American Petroleum Institute, Mike Sommers, said Thursday that his trade group is working to ensure that crude oil is excluded from a potential tariff war between the United States and its neighbors.
Sommers pointed the finger at gasoline, telling reporters that it was "important to keep gasoline prices low in the United States." Analysts say refiners are likely to pass on the cost of any tariffs to U.S. customers, meaning prices at the pump could rise. "We import a lot of oil from Mexico and Canada and process it here in the most sophisticated refining system in the world," Sommers said on the sidelines of an American Energy Association event in Washington. "We will continue to work with the Trump administration on this issue so they understand how important it is for us to continue these trading relationships."
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Premier Smith reported during my recent trip to Washington, D.C., I had a meeting with the American Petroleum Institute. Their worries about the potential effects of tariffs on the US economy, gasoline, and the millions of jobs that depend on sustaining cross-border energy commerce are ones that I share.
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