Shark Tank’s Kevin O’Leary: U.S. isn’t close to prepared for green transition

Entrepreneur and "Shark Tank" star Kevin O’Leary is expressing confidence that the U.S. will stick with fossil fuels well into the foreseeable future. 

Speaking to Fox Business this week, O’Leary announced he will eventually build an oil refinery to help America revert back to being energy independent, calling it “the right thing” to do for the U.S.

He also said building one is necessary because the United States will continue to rely on fossil fuels for another half-century. 

"Unfortunately, no matter how much you think we're getting off hydrocarbons, it's not going to happen for 50 years," O'Leary said. "That’s just the way it is; you’re not going to have a wind aircraft take you across the ocean." 

His comments follow the EPA on Wednesday proposing a new rule that if approved would result in two-thirds of all new cars sold in the U.S. by 2032 having to be electric vehicle – in what would be one of the Biden administration’s most aggressive climate-change policies so far.

O’Leary also said in the interview that Middle East nations have warned countries – including the U.S. – not to rely on them for energy "into perpetuity," and instead work toward energy independence.

“At the end of the day, we can make our own energy here very clean," he said. "We haven't built a refinery in America in decades because we can't permit it."

O'Leary predicts building a refinery will cost about $14 billion.

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