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December 5, 2007- BP Invests $2.5 billion in Toledo Refinery

December 5, 2007
Marcy Kaptur praised British Petroleum America (BP) for its historic $2.5 billion investmentin the company's Toledorefining plant.

The proposed expansionand modernization of the facility is predicted to bring thousands of jobs to Northwest Ohio.

The announcement, a joint venture between BP and HuskyEnergy, lays out a plan to upgrade the Toledo facility to handle up to 170,000barrels a day by 2015 of Canadian heavy crude oil from Husky's Alberta oilsands fields.

Kaptur thanked the company for its continuing confidence inthe management and skilled employees of BP's Toledo area operations, and noted that "$2.5billion for our economy, and the resulting jobs, secures our community as amajor energy producer for our nation."

In a conversation with BP America Chairman Robert Malone thismorning, Kaptur pledged assistance on the many environmental challenges thecompany will face as it develops this project. In addition, Malone and Kaptur vowed to worktogether to develop renewable energy sources in NorthernOhio.

BP's announcement came on the same day Congress debates the EnergyIndependence and Security Act which would take significant steps toward energyindependence and economic security. Thebill, on which Congress expects to vote by the end of the week, outlines a planto reduce dependence on foreign oil sources and lower energy costs bytoughening standards for utility companies, offering incentives for greentechnological initiatives, and investing in scientific research.

Kaptur said, "Congress has finally entered the fight forenergy security, and this bill gives me hope that one day America will run ongreen energy, no longer leaning on unfriendly foreign governments to supply uswith oil."