Trump touts ‘historic’ $300B Texas refinery as first new US plant in nearly 50 years

Core Insights - America First Refining (AFR) is set to open the first new U.S. oil refinery in nearly 50 years in Brownsville, Texas, leveraging advanced infrastructure for low-carbon fuels and energy products [1][6] - The project is valued at $300 billion, expected to create thousands of jobs with wages above market averages, and aims to enhance U.S. energy dominance [2][6] - The refinery will process 1.2 billion barrels of U.S. light shale oil, producing 50 billion gallons of refined products, and is designed to improve the U.S. trade imbalance by $300 billion [9][10] Project Details - The refinery will have a capacity to process 60 million barrels per year of 100% U.S. light shale oil, making it the cleanest refinery in the world [10][16] - It will not require imported crude, thus strengthening U.S. national and economic security [10] - Groundbreaking is planned for Q2 2026, with significant investments from partners including Reliance, India's largest privately held energy company [5][16] Economic Impact - The project is expected to redirect up to 60 million barrels of U.S. crude annually back into domestic refining, enhancing American industry and energy security [13] - The refinery will generate substantial economic impact, with a focus on community engagement through educational partnerships and apprenticeships [14][16] - The executive management team has extensive experience in the chemical and refining industries, having managed nearly $40 billion in capital projects [14][18]