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Creating the good kind of jobs

Creating the good kind of jobs

Speaking at this week's CERAWeek conference in Houston, ExxonMobil CEO Darren Woods announced plans to invest US$20 billion through 2022 on expansion of its facilities along the US Gulf Coast.

The expansions, which began in 2013, includes 10 projects at existing refineries and chemical plants, including LNG terminals around Beaumont and Baytown, Texas, and Baton Rouge, Louisiana. Exxon also announced plans to build a new petrochemical plant at an undisclosed location in the Gulf Coast.

Woods says "Exxon Mobil is building a manufacturing powerhouse along the U.S. Gulf Coast ... These businesses are leveraging the shale revolution to manufacture cleaner fuels and more energy-efficient plastics."

The projects are expected to create 35,000 temporary construction jobs and 12,000 permanent jobs.

President Trump promptly took to twitter to thank Exxon for their commitment to job creation in the US. White House staff later issued an official press release, noting that jobs in the chemical and refining sector pay an average of about US$100,000 annually.

IEA warns another oil price spike likely on the horizon

IEA warns another oil price spike likely on the horizon

CNRL on track for a record 2017

CNRL on track for a record 2017