Rick Jackson Loans $20 Million to America First Refining
A $20 million loan with a 12% interest rate for a new Texas refinery project emerged during recent federal tax court proceedings.
Updated on Oct. 21, 2026 in Oil and Gas
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Rick Jackson has provided a $20 million loan to America First Refining to support the construction of a new oil refinery on the Texas coast. Disclosures from a federal tax court hearing in 2026 revealed that Jackson also maintains an ownership stake in the company.
Why it matters
The financing and Jackson's personal ownership interest have become focal points of political discussion in the Georgia gubernatorial race. The refinery project itself marks a significant industry milestone as the first major new construction of its kind in the United States in 50 years.
The $20 million loan carries a 12% interest rate. This refinery initiative represents the first major facility of its type to be constructed in the United States in 50 years.
The players
Rick Jackson
He is a private investor whose financial dealings and ownership interest in America First Refining have become a point of contention in the Georgia gubernatorial race.
America First Refining
This corporation is the developer behind a new oil refinery project currently planned for the Texas coast.
The details
The financial arrangement, which includes Jackson holding an ownership stake in America First Refining, was made public during a federal tax court hearing earlier this year. The company is currently spearheading efforts to develop a new oil refinery along the Texas coast.
Timeline
The loan and ownership stake were disclosed in federal tax court earlier in 2026.
Market Landscape
The proposed facility represents a rare attempt to break a 50-year construction drought in the American refinery sector. This move signals a potential shift in domestic energy infrastructure investment, positioning the firm to capitalize on aging existing capacity.
While the loan structure remains a private corporate matter, the development of a major new refinery could eventually influence regional fuel supply chains and market pricing. Consumers should monitor how such large-scale infrastructure projects affect domestic energy production capacity in the coming years.
The takeaway
Large-scale infrastructure projects in the energy sector often involve complex financial ties that can become entangled in political contests. Understanding the ownership structure behind major industrial developments is essential for assessing their long-term impact on the energy market.
Further reading
For more on the current state of domestic energy infrastructure, visit the Oil and Gas section.
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