Exxon Mobil (XOM) is about to make a massive investment and you need to know about it.
Exxon Mobil is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20B/year through 2022 to “take advantage of the American energy revolution,” CEO Darren Woods tells the CERAWeek energy conference in Houston.
Woods expects the 11 chemical, refining, lubricant and liquefied natural gas projects at proposed new and existing facilities to generate thousands of new high-paying jobs and $20B in increased economic activity in Texas and Louisiana.
“These projects are export machines, generating products that high-growth nations need to support larger populations with higher standards of living,” Woods says.
Quad 7 Capital maintains its buy rating on the stock.