Investors know the Trump administration is worried about fuel prices — and they’re offering assistance.
The White House has had discussions with a wide range of potential suitors to reopen defunct petroleum refineries from the Virgin Islands to California amid rising anxieties over higher fuel prices, according to three industry executives familiar with the talks. National Energy Dominance Council officials confirmed they have fielded inquiries from potential investors, and the industry sources said the NEDC connected those investors to relevant agencies to discuss how the government could help facilitate investments.
The discussions have progressed to the point where council officials have consulted with the U.S. Environmental Protection Agency on regulatory requirements for reopening mothballed facilities — an issue likely to be particularly relevant for the refinery on St. Croix, in the U.S. Virgin Islands, which has faced years of environmental problems and legal battles.
St. Croix “is one of the refineries on a short list of refineries … that the administration wants to keep running,” said one of the industry executives, who was granted anonymity to describe discussions with White House officials.
