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Trump announces 'historic' $300 billion oil refinery in Texas, thanks Reliance
The announcement comes as the Trump administration pursues a policy of energy dominance, backing the production of oil, natural gas and coal.
US President Donald Trump has announced that the US will get its first new oil refinery in 50 years. Taking to Truth Social, the US president announced that this achievement comes with the help of investment from India’s Reliance Industries Ltd.
“I am proud to announce that America First Refining is opening the FIRST new U.S. Oil Refinery in 50 YEARS in Brownsville, Texas,” Trump said Tuesday in a post on Truth Social.
The announcement comes as the Trump administration pursues a policy of energy dominance, backing the production of oil, natural gas and coal. The refinery announcement also comes as world's oil and gas supply has come to a halt with the conflict between Iran, US and Israel.
“THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY, A MASSIVE WIN for American Workers, Energy, and the GREAT People of South Texas! Thank you to our partners in India, and their largest privately held Energy Company, Reliance, for this tremendous Investment,” Trump wrote further.
The Republican leader added that the setting up of the new refinery comes due to his “America First Agenda” which has streamlined permits and lowered taxes, allowing “Billions of Dollars in Deals coming back to our Nation".
“A new Refinery at the Port of Brownsville, will fuel US Markets, strengthen our National Security, boost American Energy production, deliver Billions of Dollars in Economic impact, and will be THE CLEANEST REFINERY IN THE WORLD. It will power Global Exports, and bring THOUSANDS of long overdue Jobs and Growth to a Region that deserves it. This is what AMERICAN ENERGY DOMINANCE looks like. AMERICA FIRST, ALWAYS” the US leader added further.
In Trump's statement, the refinery is a $300 billion deal. However, it has not been made clear if he meant this investment was part of a bigger deal with India.
An official statement from Reliance Industries regarding the same is awaited.
