ExxonMobil announces another $35 billion investment in US

ExxonMobil has announced plans to spend an additional $35 billion -- in excess of the $15 billion previously announced -- on U.S. investments over the next five years. Company CEO Darren Woods says the investments will come out of company profits as well as the tax savings.

Woods predicted the lower tax rate would spur additional investment as other firms realize savings, helping to boost U.S. economic growth.

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And indeed it will. What the final end result will be, of course no one knows, but I'm sure Exxon will not be the only major company to shift gears thanks to the tax overhaul. I'll be we'll see some major oil and gas money pouring into the US in the next few years.

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That brings the total--so far--of money companies are investing in jobs and facilities in the US to about $500 billion thanks to the Trump Tax Bill

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So in other words, they were too greedy to invest this money before the tax cuts. MAGA

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1 hour ago, Meanwhile said:

ExxonMobil has announced plans to spend an additional $35 billion -- in excess of the $15 billion previously announced -- on U.S. investments over the next five years. Company CEO Darren Woods says the investments will come out of company profits as well as the tax savings.

Woods predicted the lower tax rate would spur additional investment as other firms realize savings, helping to boost U.S. economic growth.

t'll mean you'll be paying 20 cents more a gallon

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4 minutes ago, Meanwhile said:

So in other words, they were too greedy to invest this money before the tax cuts. MAGA

And since Exxon already pays no federal tax, the federal tax cut probably has very little impact on their decision.

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4 minutes ago, Joanna said:

t'll mean you'll be paying 20 cents more a gallon

Why should you care, bicycles burn no gas.

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Just read Exxon will triple its West Texas Permian Basin production to more than 600,000 oil-equivalent barrels by 2025.

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Yes, just right after Woods announcement about $50 billion in domestic production. Also planning to invest $2 billion transportation infrastructure to support operations in the Permian. 

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Looks like a good year,but we'll see. Worldwide demand is growing. Big players China and India are going to use a lot more energy in coming years.

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