Benny Antony
1.7K posts
@Benant
Editor at Edelweiss, Former Journalist at BloombergQuint, Deccan Herald, The Economic Times and many many more...
JUST IN: The United States has not built a new oil refinery in fifty years. Fifty. The last one broke ground when Nixon was president and oil cost $3 a barrel. Trump just announced a $300 billion deal to build one. The largest energy investment in American history. Port of Brownsville, Texas. Groundbreaking Q2 2026. Binding 20-year offtake agreement. Processing American shale crude. Thousands of jobs in South Texas. “The cleanest refinery in the world.” The lead investor is Indian. Reliance Industries, controlled by the Ambani family with a 50.39% promoter stake, operators of the Jamnagar complex in Gujarat, the largest single-site refinery on Earth, are the confirmed major foreign partner. Trump thanked them on Truth Social as “our partners in India, and their largest privately held Energy Company” for their “tremendous investment.” Now hold two facts simultaneously. India’s Reliance Industries is investing billions in an American refinery to process American shale oil for American energy dominance. India’s government, led by Modi, is simultaneously importing over 40% of its crude from Russia at war-discounted prices, rejected the US “permission” framing for a 30-day Russian oil waiver on 7th March (“India has never depended on permission from any country”), and continues buying Iranian crude via Chabahar port logistics. The same country. The same week. Building American energy independence with one hand. Buying Russian crude with the other. This is not hypocrisy. This is the Modi Doctrine operating at its highest expression. Multi-alignment means India does not choose sides. It chooses deals. QUAD membership for security. Russian crude for energy. Chabahar for Iranian access. Reliance capital for American refining. Israeli defence technology for military modernisation. Gulf remittances for 10 million workers. No formal alliance with any power. Maximum leverage with all of them. Every relationship is transactional. Every commitment is calibrated. Every contradiction serves a constituency. Trump needs the refinery because the Iran war just proved that 50 years without building one left America dependent on foreign refining capacity for products its own shale produces. The Strait of Hormuz did not just close oil transit. It closed the refined product supply chain that feeds American gasoline, diesel, jet fuel, and petrochemicals. Building domestic refining capacity is the structural response to Actuarial Warfare: if chokepoints can be closed by insurance spreadsheets, the only defence is not needing the chokepoint. Ambani needs the deal because Reliance’s Jamnagar complex processes Gulf crude that transits Hormuz. The same Strait that is mined, uninsured, and defended by 31 autonomous IRGC commands. Diversifying into American shale refining hedges against the exact crisis currently paralysing Reliance’s primary feedstock route. This is not philanthropy. It is the world’s largest refiner buying insurance that no P&I club can provide. The war created the crisis. The crisis created the deal. The deal was signed by the country whose Prime Minister was just given “permission” to buy Russian oil and told America it never asked. Fifty years. One war. One phone call. And the billionaire who builds it is from the country Washington cannot decide whether to sanction or celebrate. Full analysis here. open.substack.com/pub/shanakaans…
Here in Mumbai....All open grounds are served on silver platter to developers by BMC.....They care hoots about open space
