Trump announces first US oil refinery in 50 years, calls Texas project 'historic $300B deal'

WASHINGTON, DC: President Donald Trump shared a post on Truth Social on Wednesday, March 11, saying that “real energy dominance” is returning to America. He said that the first America First Refining project is set to open the first new US oil refinery in 50 years, calling it a historic moment.

Highlighting the significance of the development, he described it as a “massive win” for American workers, the Energy Department, and Texas. As oil prices continue to rise, Trump had earlier said that people should not worry. He noted that once the war ends, things will return to normal.

He also described the price increase as a “small price” to pay for the betterment of the country and the world.

Trump touts Texas refinery as jobs boost

Trump shared the announcement on Truth Social, calling it a major step for the nation’s energy sector. In the post, he wrote, "America is returning to REAL ENERGY DOMINANCE! Today I am proud to announce that America First Refining is opening the FIRST new US Oil Refinery in 50 YEARS in Brownsville, Texas."

While talking about the agreement behind the project, he described it as one of the biggest deals in US history. He said, "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!" 

Trump also expressed gratitude to India for its partnership. He thanked "their largest privately held Energy Company, Reliance, for this tremendous Investment." Referring to his America First policies, he said the government has focused on "streamlining Permits and lowering Taxes, that have attracted Billions of Dollars in Deals coming back to our Nation."

Speaking about the refinery, Trump said the project would strengthen the country’s energy supply and support national security. He stated, "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."

He ended the post by highlighting the expected benefits of the project. He wrote, "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!" 

Trump says oil spike ‘small price’

On Sunday, March 8, Trump posted on Truth Social about the sharp rise in oil prices in the US as the war with Iran continued. His remarks came after oil prices crossed the $100-per-barrel mark when trading opened later that evening.

Trump suggested that the surge in prices would not last long. He said people who believe the prices will stay high are mistaken. In the post, he wrote, "Short-term oil prices, which will drop rapidly when the destruction of the Iran nuclear threat is over, is a very small price to pay for USA, and World, Safety and Peace. ONLY FOOLS WOULD THINK DIFFERENTLY!"

The oil situation, not just in the US but around the world, worsened because the Strait of Hormuz, a key global oil route, remains closed due to the ongoing war with Iran.