Posted on 06/15/2022 8:46:13 PM PDT by DoodleBob
IRVING, Texas – ExxonMobil today released the following statement in response to a letter from President Biden.
We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period.
Globally, we’ve invested double what we’ve earned over the past five years -- $118 billion on new oil and gas supplies compared to net income of $55 billion. This is a reflection of the company’s long-term growth strategy, and our commitment to continuously invest to meet society’s demand for our products.
Specific to refining capacity in the U.S., we’ve been investing through the downturn to increase refining capacity to process U.S. light crude by about 250,000 barrels per day – the equivalent of adding a new medium-sized refinery. We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand.
In the short term, the U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions -- such as waivers of Jones Act provisions and some fuel specifications to increase supplies. Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines.
(Excerpt) Read more at corporate.exxonmobil.com ...
I hope they play hard ball with Bidet.
Give the man another Metamucil ice cream cone, Doc Jill!
Short version: “Xoe, YOU did this....rescind your EOs!”
Or better an ice cream cone with 3x Ex-lax, Doc Jill.
We’ve got the 5hits of him and its time you did, too!
Yup, as everyone knows the left is screwing us on purpose....
They don’t want investment they want price decreases
ExxonMobil to short bus, FJB
ExxonMobil doesn’t just refine gasoline, they make a myriad of petrochemical products that feed other industries. EM is probably one of the most important companies in the U.S. and need to call out this fascist administration. I.G. Farben unfortunately never did.
In other words, go back to the policies that existed under Trump.
Biden created this part of the mess - starting day one.
Bite me Biden
The Keystone pipeline that Biden and the democrat party shutdown would have been delivering 830,000 barrels of oil per day.
One pipeline. The democrats have been shutting down oil production since obama and biden were last in office.
Translation:
“Brandon, you ignorant slut!”
Big oil should also remind Biden, and the public, of the millions of the output from US refineries being exported out of the country. Exports of refined petroleum have increased in 2022, to a 32 year high, and reserve stocks are at dangerously low levels. Prices in the US would be lower if those refined products were being sold in the domestic market.
“IRVING, Texas – ExxonMobil today released”
Surprised me this was from Irving. I thought they had moved their world headquarters to their new 26 building mega complex in Spring, TX.
Bidenomics:
Xiden: We are shutting down all possible sources of crude supplies for your refineries. And we are ordering you to produce more gasoline than ever before.
Oil companies: What do liberals think that gasoline comes from - unicorn farts?
Obviously liberals cannot connect the dots:
- Gaea makes crude
- Big Oil takes crude and makes gasoline
- gasoline goes into cars
- cars with gasoline makes for happy voters
- etc
One wonders how it is that many liberals can walk and breathe at the same time.
Way too civilized!
Money paragraph:
“ In the short term, the U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions — such as waivers of Jones Act provisions and some fuel specifications to increase supplies. Longer term, government can promote investment through clear and consistent policy that supports U.S. resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines.”
You win Post of the Thread.
Agree Biden has already caused (6) refineries to shut down that causes a big crimp on production and caused more small drilling companies to go bust Biden and his stooge crew are paralyzing stupid when it comes to any type of business.
Biden could end the high fuel costs in a few weeks just by opening the pipe lines and allow drilling leases he’s proof no cure for stupidity.
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