Recent Posts
Yet another attempt to undermine the nation’s energy industry
There’s a letter making the rounds this week in Washington from a number of Democratic Senators, asking for congressional support to remove tax provisions that help enable the oil and natural gas industry to create jobs and contribute billions in tax revenues to federal, state and local governments across the nation. While the letter wasn’t sent to ExxonMobil, I think it’s important to address the claims made in it, for two reasons: first, because they are incorrect; and second, because punishing successful companies won’t do anything to help restore our economy.
Putting our earnings in context
We announced our 2010 results yesterday, and while much of the coverage focused on the headline earnings of $30 billion, I want to share some other key numbers to help put it in perspective.
The new energy line-up: Natural gas takes No. 2 spot behind oil
Want to know how much energy the world will need over the next couple of decades and where it will come from? Take a look at ExxonMobil’s newly released Outlook for Energy. There, you’ll find that growing populations, coupled with economic and social progress, mean the world is going to need more energy by the year 2030. And we’ll need a diverse mix of affordable energy sources to meet this demand.
Political capital or private capital – which best drives economic growth?
If we as a nation are to work together, increase American competitiveness, reduce the deficit, and invest in innovation – all goals stated by President Obama in last night’s State of the Union address – then we cannot start this journey by casting aside one of the historic American powerhouses of economic growth and jobs. But yet, that is what the president seemed to do last night to the U.S. oil industry …
