"We expect these 11 projects to create over 45,000 jobs".
A White House statement congratulating ExxonMobil for increasing investment in Texas and Louisiana cribbed multiple lines from the oil giant's statement without citation.
In his third tweet on Exxon, Trump wrote, "45,000 construction & manufacturing jobs in the U.S. Gulf Coast region".
Some oil analysts were not impressed. Wood said. "They are more expensive and lead to poor investment decisions, focused on the limitations imposed, not true innovation".
Welcome to the United States of ExxonMobil and Big Oil. "This is simply the latest example of that".
While looking at the Stock's Performance, Exxon Mobil Corporation now shows a Weekly Performance of 1.58%, where Monthly Performance is 0.16%, Quarterly performance is -4.19%, 6 Months performance is -2.89% and yearly performance percentage is 4.22%. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.This is because the average acts like a floor (support), so the price bounces up off of it. Moreover, ExxonMobil has been a major operator and investor in the Gulf of Mexico for decades. ExxonMobil CEO Rex Tillerson resigned to serve as Secretary of State in the Trump administration.
Numerous projects were previously announced, including chemical and plastics projects near Houston, refining expansions in Beaumont and Baton Rouge, and a joint venture with Saudi Arabia to build a new petrochemical plant that's tentatively scheduled for the Corpus Christi region, a statement released by the company said.
Woods emphasized that the projects, which he said involves "building a manufacturing powerhouse" along the U.S. Gulf Coast, will help the company increase its exports to "fast growing nations". Expansions of these facilities began in 2013 and will continue into 2022 to a tune of Dollars 20 billion.
Exxon Mobil Corp.'s new chief executive recommitted the company to a 10-year program that started in 2013 to expand the company's manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion to take advantage of the American energy revolution. In it, the company included language about investments in new refining and chemical manufacturing.
The two releases also shared another almost identical sentence - "These jobs will have a multiplier effect, creating many more jobs in the communities that service these new investments", was stated by Woods in the ExxonMobil press release.
As usual, this White House displayed a kid-who-didn't-do-the-reading laziness here.