Bottom line in Jack's con is that if BIG oil conglomerates wanted to build a NEW refinery in Texas, they would build it with CASH of their own, not having to borrow a cent to build it (unless it was conducive to them to have a writeoff).
AND - they wouldn't have needed Jack to get it built or build it!
Either way, once the builders start building, which is very soon, it won't matter as much and Jack will for the most part have finally redeemed himself to everyone, plus have his (own) state of the art refinery - and not one dictated by someone else