US to get new refinery with Reliance backing, says Trump

President Donald Trump on Tuesday announced America First Refining (AFR) is opening the first new U.S. oil refinery in nearly half a century in Brownsville, Texas. "America is returning to REAL ENERGY DOMINANCE!" Trump wrote in an announcement on Truth Social. "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!" Partners in India and their largest privately held energy company, Reliance, made a "tremendous" investment in the project, according to Trump.
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". An official statement from Reliance Industries regarding the same is awaited.
Under the newly signed agreement, 1.2 billion barrels of U.S. light shale oil will be purchased and processed, a value of $125 billion; AFR will produce 50 billion gallons of refined products, a value of $175 billion; and the U.S. trade imbalance will improve by $300 billion, according to AFR.The refinery is specifically engineered to process American light shale oil (47° API), which is cleaner, more efficient and less costly to process than heavier imported crude. Unlike many existing U.S. refineries that depend on foreign oil, the facility will not require imported crude, which strengthens U.S. national and economic security.