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‘Shark Tank' star Kevin O'Leary plans to build new US oil refinery to ‘do the right thing for America’

Kevin O'Leary broke news on FOX Business Tuesday claiming he's in the early stages of building a new U.S. oil refinery to secure America's energy independence.

O'Leary Venture Chairman and "Shark Tank" star Kevin O'Leary announced plans to build a new oil refinery in America in an effort to reignite America's energy independence during "The Big Money Show's" playbook panel on Tuesday.

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"I'm at that stage in my life where I want to do something big. And the task that I've decided I'm going to take on is, I'm going to build a refinery in America. I'm going to do it," O'Leary said.

"It's going to cost about $14 billion. 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."

This is a developing story. Please check back for updates.

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