December 5, 2007- BP Invests $2.5 billion in Toledo Refinery
December 5, 2007
Press Release
Marcy Kaptur praised British Petroleum America (BP) for its historic $2.5 billion investment
in the company's Toledo
refining plant.
The proposed expansion and modernization of the facility is predicted to bring thousands of jobs to Northwest Ohio.
The announcement, a joint venture between BP and Husky Energy, lays out a plan to upgrade the Toledo facility to handle up to 170,000 barrels a day by 2015 of Canadian heavy crude oil from Husky's Alberta oil sands fields.
Kaptur thanked the company for its continuing confidence in the management and skilled employees of BP's Toledo area operations, and noted that "$2.5 billion for our economy, and the resulting jobs, secures our community as a major energy producer for our nation."
In a conversation with BP America Chairman Robert Malone this morning, Kaptur pledged assistance on the many environmental challenges the company will face as it develops this project. In addition, Malone and Kaptur vowed to work together to develop renewable energy sources in Northern Ohio.
BP's announcement came on the same day Congress debates the Energy Independence and Security Act which would take significant steps toward energy independence and economic security. The bill, on which Congress expects to vote by the end of the week, outlines a plan to reduce dependence on foreign oil sources and lower energy costs by toughening standards for utility companies, offering incentives for green technological initiatives, and investing in scientific research.
Kaptur said, "Congress has finally entered the fight for energy security, and this bill gives me hope that one day America will run on green energy, no longer leaning on unfriendly foreign governments to supply us with oil."
The proposed expansion and modernization of the facility is predicted to bring thousands of jobs to Northwest Ohio.
The announcement, a joint venture between BP and Husky Energy, lays out a plan to upgrade the Toledo facility to handle up to 170,000 barrels a day by 2015 of Canadian heavy crude oil from Husky's Alberta oil sands fields.
Kaptur thanked the company for its continuing confidence in the management and skilled employees of BP's Toledo area operations, and noted that "$2.5 billion for our economy, and the resulting jobs, secures our community as a major energy producer for our nation."
In a conversation with BP America Chairman Robert Malone this morning, Kaptur pledged assistance on the many environmental challenges the company will face as it develops this project. In addition, Malone and Kaptur vowed to work together to develop renewable energy sources in Northern Ohio.
BP's announcement came on the same day Congress debates the Energy Independence and Security Act which would take significant steps toward energy independence and economic security. The bill, on which Congress expects to vote by the end of the week, outlines a plan to reduce dependence on foreign oil sources and lower energy costs by toughening standards for utility companies, offering incentives for green technological initiatives, and investing in scientific research.
Kaptur said, "Congress has finally entered the fight for energy security, and this bill gives me hope that one day America will run on green energy, no longer leaning on unfriendly foreign governments to supply us with oil."