When they say this:

The federal government will enter into contracts with Exxon Mobil. The contracts will specify that oil produced in U.S. tracts be refined in U.S. refineries.

You should know we tried that once before:

As the Trans-Alaska Pipeline was authorized that same year to open Alaska's North Slope oil fields, Congress banned exporting the oil amid concerns that it might wind up being shipped overseas while Americans stood in lines at gas stations.

What will really happen is this:

Soon after, oil companies and Alaskan leaders (R) started lobbying to lift the export ban, arguing it threatened to flood West Coast refineries, artificially depressed the price of Alaskan oil and forced oil shipments to parts of the U.S. that lay much farther from Alaska than Asian ports.

 Guess what the REPUBLICANS did:

The ban was overturned in 1995, an effort led by Alaska's congressional delegation, including Rep. Don Young(R) and Stevens (R).

Stevens (R) at the time hailed the decision as a "great victory for Alaska" that would encourage further oil development and create more jobs.

So when they say this:

The drilling, transportation, refining, marketing will produce hundreds of thousands of new, good paying, American jobs. 

 Its been said before...

"This ban is unconstitutional and unjust. Lifting the ban would mean Alaska could sell its oil on the world market, which would increase state revenues by as much as $700 million," he said in a press release.

No additional jobs were created. And the coffers, sadly for the Alaskans didn't swell with 700M in new revenue. But don think that " restricting new drilling" to US consumption will stop oil companies..

"Sam Van Vactor, a Portland-based energy consultant who studies the West Coast oil market, said oil discoveries in the refuge probably wouldn't be big enough to trigger pressure for exports.

Even with an export ban on refuge oil, Alaskan oil could still be sold overseas. If the refuge oil were to meet all the domestic needs of West Coast markets, producers could put oil extracted from other North Slope oil fields that aren't subject to an export ban on tankers bound for Asia "