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Business mogul Kevin O’Leary wants to invest in a US refinery, says fossil fuels will stick around

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Shark Tank personality and business mogul Kevin O’Leary revealed this week that he wants to invest in an oil refinery in the United States and predicted the country will not be making a full transition to clean energy anytime soon.

O’Leary appeared on Fox News’ “The Big Money Show” and discussed the future of clean energy in the US and what investments he might want to make. “Unfortunately, no matter how much you think we’re getting off hydrocarbons, it’s not going to happen for 50 years,” he mused. “You’re not going to have a wind aircraft take you across the ocean.”

The CEO and chair of O’Leary Ventures said he may even enter the fossil fuel game as a future investment by staking a claim in an existing refinery. He pointed out that he could not open his own refinery. “We haven’t built a refinery in America in decades because we can’t permit it,” he said, placing the blame on Congress’ lack of policy. He said he would prefer to open his own refinery.

“I’m at that stage in my life where I want to do something big,” O’Leary said. “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.” 

ARTICLE: LAURA SPIVAK

MANAGING EDITOR: LUKE MOCHERMAN

PHOTO CREDIT: FOX BUSINESS

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Laura Spivak

Laura is a freelance writer out of Maryland and a mom of three. Her background is in political science and international relations, and she has been doing political writing and editing for 17 years. Laura has also written parenting pieces for the Today Show and is currently working on writing a collection of remarkable true stories about normal people. She writes for FBA because unbiased news is vital to unity, and readers deserve the facts free of opinion.

Laura is a freelance writer out of Maryland and a mom of three. Her background is in political science and international relations, and she has been doing political writing and editing for 17 years. Laura has also written parenting pieces for the Today Show and is currently working on writing a collection of remarkable true stories about normal people. She writes for FBA because unbiased news is vital to unity, and readers deserve the facts free of opinion.

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