“Shark Tank” star Kevin O’Leary vows to build $14-B oil refinery in the US
(Fox Business) Kevin O’Leary, star of “Shark Tank” and chairman of O’Leary Ventures announced his plans to build a $14-B oil refinery with the goal of reigniting America’s energy independence.
On a recent episode of Fox News’ “The Big Money Show”, O’Leary stated "I'm at that stage in my life where I want to do something big. And the task that I've decided I'm going to take on is, I'm going to build a refinery in America. I'm going to do it,"
"It's going to cost about $14 billion," he explained. "I'm going to syndicate that debt and that equity. I'm going to find a state that wants to work with me. I'm going to get a permit and we're going to do the right thing for America. We have to have more refineries."
O’Leary later continued, "The Middle East, that produces most of the world's oil, has already told every economy, including ours: do not depend on us in perpetuity for your energy; if you can find your way to energy independence, you do it and in fact, we'll invest in it for you because we have to supply energy to the entire world," O'Leary said. "Unfortunately, no matter how much you think we're getting off hydrocarbons, it's not going to happen for 50 years."
"At the end of the day, we can make our own energy here very clean. We haven't built a refinery in America in decades because we can't permit it," the "Shark Tank" star said.
Responding to a question from the audience, O’Leary went on to note that America’s energy independence is a “top-three election issue”.