Trigger alert for liberals: This OP contains more good economic news caused by the Trump tax cuts. From Exxon says 'historic' tax reform will support $50 billion spending plan:
“The recent changes to the U.S. corporate tax rate coupled with smarter regulation create an environment for future capital investments and will further enhance ExxonMobil’s competitiveness around the world,” Woods wrote.
An Exxon spokesperson said more than $35 billion of the $50 billion plan will be spent on projects that weren’t previously announced.
Exxon will invest billions of dollars to boost oil production in the Permian Basin, an oil-rich shale play in Texas and New Mexico, Woods noted. Exxon also plans to build new manufacturing sites and improve infrastructure. The moves are expected to create thousands of jobs in the U.S.
Woods said tax cuts “enhanced” Exxon’s investment plan, adding that they will “complement the substantial capital spending in the United States that ExxonMobil has teed up in the coming years.”
An Exxon spokesperson said more than $35 billion of the $50 billion plan will be spent on projects that weren’t previously announced.
Exxon will invest billions of dollars to boost oil production in the Permian Basin, an oil-rich shale play in Texas and New Mexico, Woods noted. Exxon also plans to build new manufacturing sites and improve infrastructure. The moves are expected to create thousands of jobs in the U.S.
Woods said tax cuts “enhanced” Exxon’s investment plan, adding that they will “complement the substantial capital spending in the United States that ExxonMobil has teed up in the coming years.”
