Trump refinery in Texas: $300B investment

The refinery, called America First Refining, is planned for the Port of Brownsville, a deep-water port near the U.S.-Mexico border. It will be the first new refinery built in the United States in 50 years. The $300 billion figure cited by Trump isn't the construction cost. It represents the estimated value of a 20-year agreement where Reliance will purchase 1.2 billion barrels of American shale oil, and refined products. This includes $125 billion in shale oil and $175 billion in refined products. The refinery will process 60 million barrels of U.S. light shale oil annually, sourced entirely from American shale fields. Reliance Industries will also handle the distribution of the refined products. Construction is slated to begin in the second quarter of 2026. The project has its origins in an earlier plan by Element Fuels, which secured permits and prepared the site in 2024. America First Refining later took over the development. The facility will have the capacity to process around 168,000 barrels of crude oil per day. Brownsville is currently experiencing significant economic growth, with approximately $40 billion in development projects underway. The city's strategic location, skilled workforce, and available land are attracting substantial investment.