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Exxon Responds To Trump Energy Policy By Investing $20 Billion

It’s a simple concept but incentives matter.

President Trump’s commitment to reverse former President Obama’s climate change regulatory agenda is already yielding huge economic returns.

The coal industry is stabilized and showing signs of life. A recent Fox News story discussed the recent bounce back in Virginia City, Virginia due to a resurgence in coal mining.

With the threat of climate change regulations eliminated, the oil and natural gas industry are making huge investments in U.S. energy infrastructure.

For example, Exxon Mobil announced a $20 billion investment in refineries and liquefied natural gas facilities. It’s estimated that about 45,000 jobs will be created from this projects.

CBS News reports:

Exxon Mobil (XOM) promised to invest $20 billion over 10 years to build and expand refineries, chemical and liquefied natural gas plants along the Gulf Coast.

Chairman and CEO Darren Woods said Monday the expansion plan was mostly designed to create petroleum products for export. Woods said the work, which would focus on 11 plants in Texas and Louisiana, would create 12,000 permanent jobs and 35,000 construction jobs. Exxon currently has about 71,000 employees.

The promised $20 billion, decade-long investment would be roughly equal to Exxon’s total capital spending last year. The company announced last week that it plans to increase overall investments to an average of $25 billion a year from 2018 to 2020.

During the campaign, Trump promised to reduce regulations and companies are responding to his pro-economic agenda.

Tom Borelli

Dr. Tom Borelli is a Newsmax TV contributor and radio commentator addressing political issues from a conservative grassroots perspective. As a columnist, he has written for The Washington Times and authored articles for Newsmax Magazine, Newsmax Insider and previously was a co-host with his wife Deneen Borelli on the SiriusXM Patriot channel. Dr. Borelli appeared on numerous television programs, including the highly ranked Fox News Channel’s “The O’Reilly Factor,” “Hannity,” “The Kelly File," and "America’s News Headquarters." He has also appeared on Fox Business Network’s “Making Money with Charles Payne” and “After the Bell” as well as TheBlaze TV’s "The Glenn Beck Program" and "Dana!" Prior to working for public policy organizations, Dr. Borelli was a managing partner with the investment advisory firm of Action Fund Management, LLC and a portfolio manager for the Free Enterprise Action Fund (FEAF) where he used shareholder activism to challenge corporations that sought to profit from the growth of government. During his 25 years with the Altria Group, Inc., he built a foundation in public policy and issues management, drawing from diverse experiences ranging from basic research to corporate affairs. Dr. Borelli served as science fellow for the U.S. House of Representatives' Committee on Science, Space, and Technology during the 100th Congress. Dr. Borelli has also published scientific papers on interferon and human leukemia.

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