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The State of Energy is Strong


Click play to listen to Rex Tillerson’s State of Energy address
Download the audio file here


The Greater Houston Partnership honored ExxonMobil by asking our CEO, Rex Tillerson, to deliver an address on the “State of Energy.

Rex spoke yesterday about how new technologies in North America are transforming the domestic and global economy by creating a new era of energy abundance.

RexTillerson_KeyNote 10.14He discussed these developments in detail, from the shale revolution that is unlocking huge amounts of oil and natural gas to Canada’s oil sands to advances offshore in the Gulf of Mexico and beyond.

Rex stressed that what is occurring in North America today is completely upending the thinking about energy, economics, and global security that has dominated for much of the last half century.

Giving some statistics about the recent jump in domestic oil production, Rex noted that the U.S. now produces 8.5 million barrels every day. That’s a 50 percent increase – or roughly 3 million more barrels per day – compared to 2011.

Something struck me when he later mentioned that the state of Texas now produces 3 million barrels per day.

Think about that. In less than three years, the U.S. has added to its daily production an amount equivalent to the current daily output from Texas.

In other words, the shale revolution has added another Texas to our nation’s daily production.

It’s even more astounding than that, because output has climbed steadily in Texas. Just three years ago, the Lone Star State was producing about 1.5 million barrels per day. So we’ve actually added the Texas of 2011 to U.S. daily oil production … twice over. Extraordinary.

Rex discussed a wide range of topics this afternoon, covering the role sound policy plays in enabling progress as well as the corporation’s commitment to the greater Houston region.

You can read Rex’s speech here, or click the links above to listen to or download the audio.


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