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President Donald Trump on Tuesday announced America First Refining (AFR) is opening the first new U.S. oil refinery in nearly half a century in Brownsville, Texas. Situated in a massive deep-water foreign trade zone, the project will leverage advanced infrastructure and strategic rail and sea connections to transport low-carbon fuels and other energy products. "America is returning to REAL ENERGY DOMINANCE!" Trump wrote in an announcement on Truth Social. "THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY, A MASSIVE WIN for American Workers, Energy, and the GREAT People of South Texas!"

President Donald Trump announced Tuesday that the U.S. will get its first oil refinery in 50 years, funded by investments from Indian billionaire Mukesh Ambani’s Reliance Industries. “THIS IS A HISTORIC $300 BILLION DOLLAR DEAL — THE BIGGEST IN U.S. HISTORY,” Trump said in a post on Truth Social. He thanked India’s largest privately held energy company, Reliance Industries, “for this tremendous Investment.” Reliance owns the world’s largest oil refinery in Jamnagar, India, and has a market capitalization of $206 billion, according to LSEG data. The new refinery, located at the port of Brownsville in Texas, will “strengthen our National...

Former President Trump’s plans to announce his 2024 presidential campaign as early as this summer, well before what he previously indicated, throws a wrench into Republicans’ strategy for winning back the Senate and House majorities in November. Senate Minority Leader Mitch McConnell (R-Ky.) and House Minority Leader Kevin McCarthy (R-Calif.) made clear they want the 2022 midterms to be a referendum on President Biden and his handling of inflation and the economy.