Erwin Seba of Reuters reports that Exxon is starting up a $2 billion Texas oil refinery expansion.
- Exxon’s refinery in Beaumont, Texas will soon be able to refine 250,000 barrels per day, making it the second largest refinery in the United States.
- Increasing our refinery capacity is crucial to lowering energy costs and increasing energy security.
- Importantly, U.S.-produced oil and gas has a carbon footprint that is roughly half the size of fuels produced by overseas competitors.
- To lower costs and global emissions, the United States should continue to expand critical energy infrastructure such as pipelines and refineries.
“Exxon’s Beaumont expansion marks a return to an era of steady refining capacity gains through processing tweaks and adding new equipment to existing plants.”
Read the full article here.