In a letter to members of Congress ahead of the August recess, API President and CEO Red Cavaney provided an update of the nation’s energy situation. Cavaney explained that supply and demand fundamentals have driven crude oil and refined product prices sharply higher and consumers have responded by limiting fuel usage when they could. He also noted the industry’s hurricane preparedness and reiterated the readiness of API member companies to work with lawmakers to develop “workable solutions” to the nation’s long-term energy challenges.