Every few years, it seems one politician or another tries to deflect attention from the importance of opening up access to new U.S. resources by incorrectly accusing the oil and gas industry of withholding commercial production in existing leases. We’ve just seen this tactic used again. Yesterday, Senators Bill Nelson and Robert Menendez introduced what they’re calling the “use it or lose it” bill in the Senate.
To see how innovation in one industry can open doors in another, take a look at a speech given last week by Steve Pryor, president of ExxonMobil Chemical. We already know that rising U.S. natural gas production is strengthening the economy by creating jobs and tax revenue. But in Steve’s speech, you’ll see it also is providing a big boost to the U.S. petrochemical industry.
Today I was in New York attending ExxonMobil’s annual meeting with analysts at the New York Stock Exchange. Each year, we take this opportunity to review our previous year’s performance and preview upcoming projects for analysts interested in evaluating the financial and strategic standing of our company. But a lot of the information shared during this meeting is of importance to everyone, not just analysts.
In recognition of yesterday’s International Women’s Day, Secretary of State Hillary Clinton wrote about the importance of investing in women’s empowerment as a strategy for promoting social stability, job creation and economic growth around the world. We were honored that Secretary Clinton cited ExxonMobil as an example of a U.S. business that has embraced the mission to invest in women’s economic opportunities, specifically by training women entrepreneurs.