Trump Says US to Get New Oil Refinery With Reliance Backing (2)

President Donald Trump said the US will get its first new oil refinery in 50 years with the help of investment from India’s Reliance Industries Ltd.

“I am proud to announce that America First Refining is opening the FIRST new U.S. Oil Refinery in 50 YEARS in Brownsville, Texas,” Trump said Tuesday in a post on Truth Social.

The announcement came as the White House sought to quell concerns about rising energy prices due to the war in Iran. Trump is weighing several possible options to lower the cost of oil and gasoline, including the release of inventories from emergency ...