US President Donald Trump on Tuesday announced the opening of the first new oil refinery in 50 years, with investment support from India’s Reliance Industries Ltd. In a post on Truth Social, Trump said the new refinery would supply American markets, strengthen national security, and increase energy production.
“America is returning to REAL ENERGY DOMINANCE! Today I am proud to announce that America First Refining is opening the FIRST new U.S. Oil Refinery in 50 YEARS in Brownsville, Texas. THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN US 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,” he said.
Trump added that the new refinery would deliver billions of dollars in economic impact and create thousands of jobs in the region.
“It is because of our America First Agenda, streamlining Permits, and lowering Taxes, that have attracted Billions of Dollars in Deals coming back to our Nation. A new Refinery at the Port of Brownsville, will fuel U.S. 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!”, he said.
The Strait of Hormuz is one of the world’s most critical shipping routes, through which a significant portion of global oil and gas supplies passes.
The conflict in the region, following the killing of 86-year-old Iran’s Supreme Leader, Ayatollah Ali Khamenei, in joint military strikes by the US and Israel on February 28, after which Iran, in its retaliation, targeted Israeli and US assets in several Gulf countries, has disrupted the waterway and affected international energy markets and global economic stability.
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