STATEMENT: Talley Comments on New Oil Refinery in Cushing
Rep. John Talley, R-Stillwater, today commented on the news that Southern Rock Energy Partners (SREP) has selected Cushing as the site for a $5.6 billion refinery in Cushing.
"The creation of this refinery is a generational gamechanger for Cushing and the surrounding north central Oklahoma community. The economic impact of Southern Rock Energy Partner's new refinery is the most significant development in Cushing's recent history, and I look forward to seeing the future of SREP in Oklahoma. For the past two years, I've worked with the leaders at the Cushing Economic Development Foundation and the City of Cushing to secure this investment, and I want to thank them for their diligent work and support as we deliver for our community."
The 250,000 b/d crude refinery will process domestically produced light, sweet shale (WTL and WTC) and light, sweet crudes (WTI) into low carbon transportation fuels by utilizing advanced technologies with a zero-carbon footprint.
The refinery project will generate and consume hydrogen as a fuel source, capture and sequester carbon dioxide emissions, generate and consume electricity from waste heat, geothermal, and renewable assets, produce water from waste vapor streams, and recycle and repurpose wastewater.
As a result, 95% of greenhouse gas emissions will be reduced or eliminated, water production and consumption will be reduced by 90% with 80% being recycled and repurposed, 100% renewable electricity will be consumed, 98% of fugitive emissions will be eliminated, and the land footprint will be reduced by 65%.
Cushing, known as the “Pipeline Crossroads of the World” for crude oil, is home to approximately 100 million barrels of storage in the tank farms surrounding the community.
The project, announced Wednesday, is anticipated to create over 400 full-time jobs. Construction is scheduled to begin in 2024 and operations are expected to begin in 2027.