The United States Department of Energy said President Donald Trump's plan to expand domestic refining capacity is expected to increase fuel production "by millions of gallons per day."
Trump earlier announced $150 million in funding under the Defense Production Act to increase American refining capacity. The department clarified that up to $150 million would be available to restart a refinery and expand production of gasoline, diesel, jet fuel and other petroleum products. Energy Secretary Chris Wright said the funds would be used "strategically and in partnership with private industry," while the department said project selection was still underway.
The funding follows a presidential memorandum authorizing federal support for domestic petroleum production, refining and logistics.
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