In a speech this afternoon Darren Woods, the new CEO of ExxonMobil set forth his vision of how America’s biggest oil company will invest over the next decade to capitalize on the miracle of the U.S. oil and gas boom. Speaking at the annual CERAWeek conference in Houston, Woods touted Exxon’s new $20 billion Growing the Gulf initiative. It’s their umbrella term for 11 major chemical, refining, lubricant and liquefied natural gas projects along the coasts of Texas and Louisiana. All told, these projects could create 35,000 construction jobs, and 12,000 full-time jobs, said Woods.
“Hydraulic fracturing has opened up a whole new energy future for the United States, and potential for many other countries,” said Woods. "An upstream technology breakthrough has led to a downstream manufacturing renaissance. It has created new manufacturing jobs, investment and exports.”