EnergyFactor By ExxonMobil | Pespectives has a new home

Celebrating good economic news in Pennsylvania

For hundreds of shipyard workers, business leaders, and elected officials in Pennsylvania, today was a big day.

They celebrated the new jobs and economic investment that will result from ExxonMobil-affiliate SeaRiver Maritime Inc.’s agreement with Aker Philadelphia Shipyard to build two new Liberty Class tankers.

The construction of the tankers, valued at $400 million, will create more than 1,000 direct jobs during a two-year construction period. Once completed, the double hull vessels will be used to transport Alaska North Slope crude oil to U.S. West Coast destinations.

As ExxonMobil Senior Vice President Andy Swiger said at today’s ceremony, “What we celebrate today is a reminder of what America’s energy industry can do and is doing – investing in our country.”

Andy’s words couldn’t be more relevant at a time when the United States continues to face challenges in creating jobs and jump-starting investment in many parts of the country.

What’s happening in Pennsylvania, however, is an example of the economic good that can come from investments in domestic energy supplies.

This new shipbuilding project alone will “support jobs for the shipyard workforce, for the steel industry, and for countless material, equipment and service providers across the commonwealth and beyond,” said Will Jenkins, president of SeaRiver.

The oil and gas industry is also supporting thousands of jobs in Pennsylvania through shale gas development and production. In fact, shale gas development has already contributed to a 130 percent rise in jobs in Pennsylvania’s “core” oil and gas industries over the past 10 years.

This type of growth can be replicated throughout the country, but it takes the right policies to do so. Fair and stable legal, tax and regulatory structures are essential to attracting this kind of investment and job creation.

I have to agree with Andy when he said that America’s oil and natural gas industry can do even more. With the right policies in place, “America’s energy industry can invest for the long-term, and with every project success, we can build stronger communities and provide new sources of revenue to state and local governments.”

You can read Andy’s speech at exxonmobil.com or read more about the new tankers in the press release.


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