Learn about IMO 2020
The IMO’s sulfur standards are a ‘win-win’ by positioning the American energy industry to lead the global market for low-sulfur nautical fuel while also dramatically reducing sulfur emissions at sea.
IMO 2020 promotes American energy security.
The United States will have an advantage over foreign oil producers whose nations haven’t made the necessary investments to comply.
American refiners and shipping companies are prepared.
The refining industry is well known for responding quickly to market demands; this time is no different. The U.S. refining industry has invested $100 billion in recent years to produce cleaner fuels and is prepared to supply IMO-compliant fuels when the standard becomes effective in 2020. Many shipping companies are also rapidly installing environmental scrubbers, which allow ships to burn high-sulfur fuel.
Delaying implementation would hurt American workers.
Five American refiners lost a combined $11 billion when the Wall Street Journal reported that the administration was considering delaying implementation of IMO 2020. Losses of this magnitude affect the ability to grow, invest and hire additional workers. For example, timely implementation of the standards would support restarting the Limetree Bay refinery in St. Croix, U.S. Virgin Islands, bringing over 2,000 U.S. jobs and $600 million to the U.S. territory.