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Rising Star
And when oil prices drop again do you think it will actually be built?
Since India will be taking the output how will that help American energy independence and increasing costs due to higher fuel prices?
Refineries make money regardless of oil prices, so yes, I believe this will be built regardless of oil prices.
There is no guarantee that any(or all ) of the gas will be sent to India. The Indian company signed an offtake agreement to guarantee that if no one purchases the full capacity of refined product, they guarantee to purchase the unsold capacity for 20 years. That helps to solidify cash flow projects and get financing and approvals. In a supply issues or emergencies contracts can be redirected, exports can be restricted, then domestic markets can absorb production.
Extra refining capacity on the U.S. Gulf Coast is strategically valuable.
By being able to refine light, sweet, crude in US helps to reduce transportation expenses or crude and refined product.
Enthusiast
The refinery that will be completed during the upcoming democrat presidency (if it’s even built)?
This is true, but the company will already have all permits approved so democrats can’t stop it from being built.
Rising Star
Why has it been 50 years?
More from the Great Carnival Barker!