ExxonMobil 'Comes Out Swinging' in Response to Biden's Letter to Oil Companies

townhall.com ^ | 6/16/2022 1400 hrs edt | Leah Barkoukis

[rktman]

ExxonMobil pushed back against the accusations President Biden lobbed against oil companies in his letter to executives this week.

The company said it has “invested more than any other company to develop U.S. oil and gas supplies” at a cost of more than $50 billion in the last five years. These investments have brought about a nearly 50 percent increase in the company’s U.S. production.

“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,” the company said in a statement. “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.”

Addressing the president’s accusation that companies did not restore refining capacity that was reduced at the start of the pandemic, ExxonMobil said it continued investing despite losses.

“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,” the statement said. “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.”

[rktman]

Hmmmm. BranDUHn will hoist up the gouging greedy profits they're making and tell them to quit making petro stuff and make some solar panels and windmill cause, like jenny said, we can't be held hostage as long as the sun shines and the wind blows. 😵‍💫🤬🐂💩

[BobL]

Thereby PROVING that ExxonMobil is controlled by PUTIN.

We’re not fooled - Putin is everywhere.

[bray]

The gas and oil prices are 100% Biden’s fault.

[dfwgator]

We’re not fooled - Putin is everywhere.

When I look out into your eyes out there
When I look out into your faces
You know what I see?
I see a little bit of Putin
In each and every one of you out there

Lemme tell ya, well
Putin is everywhere
Putin is everything
Putin is everybody
Putin is still the King

Man, O, man
What I want you to see
Is that the big P's
Inside of you and me, yeah


(Apologies to Mojo Nixon)

[TexasFreeper2009]

I will tell you exactly what is happening.

In 2015 the US repealed a law that prevented US oil from being sold overseas. So, it doesn’t matter how much more we drill if we just ship it overseas.

[Tolerance Sucks Rocks]

And Exxon would have invested a lot more if Blackrock hadn’t effectively used its proxy votes to engineer a hostile takeover of the board of directors by inserting two environ-MENTAL-ists. Exxon was to increase oil exploration and production by 20%, but if Glenn Beck is correct, the Blackrock maneuver now means they’re decreasing that activity by about 20%.

[lgjhn23]

These so-called “policy makers” are nothing but a bunch of anti-American communists that need to be run entirely out of the country on a rail under the threat of hanging should they ever try to return.
These SOBs are running the USA into the ground as hard and as fast as they possibly can. They need to be GONE...for good!!

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...this is a general all-purpose message, and should not be seen as targeting any individual I am responding to...

Just $140.00 dollars to 77%.

[Chode]

that somebody dint end up in a chipper the first time, well, here we are...

[Nifster]

It’s not he democrats way

[Texas resident]

Ever notice that the policy makers are completely ignorant about the industry they want to regulate?

Not one of them understands what it takes to get oil out of the ground, refine it, then get it to market.

[ken in texas]

- Not one of them understands what it takes to get oil out of the ground, refine it, then get it to market. -

I wonder how many of them can spell oil without assistance.

[Strident]

Yeah, so what! They’re evil gajillionaires and should have invested 50 trillion dollars to make solar panels that work at night. So there. Read my tag line.

[antidemoncrat]

So Biden turned the oil delivery spigot off, removes the handle and then complains there is no oil coming out.

[BereanBrain]

BTW, ExxonMobil recently said no “Pride” flag will fly at their locations...

Now This.

They have earned my business!

[rktman]

And, AND calls you a liar for stating that. Heard he’s getting tired of all the lies bouncing around about him and the badministration.

[GOPJ]

Good for ExxonMobil ... It’s important to stand up to White liberal ‘elite’ bullies and their pets.

That said, ExxonMobil needs to watch out for DOJ, Homeland, and FBI thugs. This isn’t the country it was...

[subterfuge]

Oh boy, that’s some hard swinging by Exxon. That letter will devastate ol pedo Joe. How about telling joe to go F himself.?

[Antoninus]

It’s about time. Let’s hear from all the other oil companies. They can either speak out powerfully now, or wait until we become Bidenzuela del Norte.

[Inyo-Mono]

The gas and oil prices are 100% Biden’s fault.

Yup!