Exxon Mobil Corporation (NYSE:XOM), Pure Storage Inc (NYSE:PSTG)

Exxon Mobil Corporation (NYSE:XOM), Pure Storage Inc (NYSE:PSTG)

The firm is investing in new refining and manufacturing projects in the region to strengthen its export capacity towards Asia and elsewhere. $20 billion investment. We are already winning again, America!'

After making explosive, but as of yet unsubstantiated, claims about former President Barack Obama over the weekend, Trump did not tweet until late in the afternoon Monday. ExxonMobil is likely to spend as much as $20 billion over the 10-year span. He added that the projects target providing oil, gas and petrochemical products to overseas markets.

According to Woods, ExxonMobil is strategically investing in new refining and chemical-manufacturing projects in the U.S. Gulf Coast region to expand its manufacturing and export capacity. Woods, whose background is in downstream activities, wants to emphasize this aspect of the company's business in part for the political benefits: The Trump Administration's focus on expanding USA exports and building American infrastructure in order to produce new jobs clearly factored into Woods' address, which emphasized the "thousands and thousands" of new manufacturing and highly-skilled jobs the initiative would produce. The White House followed shortly after with their own statement praising the company for its "ambitious" program.

Throughout his presidential campaign, Trump railed against trade deals that he said took jobs away from American workers, vowing to bring manufacturing jobs back to he United States.

"This is exactly the kind of investment, economic development and job creation that will help put Americans back to work," the president said".

Woods said the projects would create more than 45,000 jobs with many paying annual wages of $100,000.

Oil in Global Economy Series: Is Saudi Arabia bypassing OPEC deal?
Similar trends are likely to get seen in other countries within the OPEC cartel. "Each country is responsible for its production". At 520.2 million barrels, USA crude oil inventories are above the upper limit of the average range for this time of year.

Woods also spoke in favor of free energy trade, which he said helped lead the USA shale industry to become a major global player.

"We are using new and abundant domestic energy supplies to provide products at a competitive advantage", Woods said at the conference held in Houston, Texas. "In this way, an upstream technology breakthrough has led to a downstream manufacturing renaissance", he said.

Many Analysts provided their foresight on Revenue Estimates of Exxon Mobil Corporation where they believe that the company has the potential to earn average revenue of $67.49 Billion for the current quarter. It plans to increase the investments to $25 billion a year on an average, between 2018 and 2020.

The White House statement also appeared to crib a quote from Darren Woods, chairman and chief executive officer of ExxonMobil, without citing the business leader.

"'Private sector investment is enhanced by this Administration's support for smart regulations that support growth while protecting the environment".

The apparent copy-and-paste job by White House staff is an example of the sort of unforced errors that have plagued the Trump administration from day one.

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