White House tries to join CERAWeek party

Shortly after ExxonMobil Chairman and CEO Darren Woods took the stage at CERAWeek by IHS Markit in Houston, the White House sent out a statement congratulating Woods and his company on a $20 billion plan to expand refining and chemical-manufacturing along the Gulf Coast. “This is exactly the kind of investment, economic development and job creation that will help put Americans back to work,” President Donald Trump said in a statement. The plan, which will include 10 years of investments at 11 chemical, refining, lubricant and liquefied natural gas projects at proposed and existing facilities, typifies the type of fossil fuel industry endeavor analysts expected to see a boost following Trump’s ascension to the presidency. While Trump appeared to take at least partial credit for ExxonMobil’s $20 billion plan, calling it a result of “our policies,” the bulk of the investments had been made while President Barack Obama was in office. And, if the first day of CERAWeek was any indication, the industry appears to be at a point where a US government-enabled boost to domestic producers may be unnecessary. In his speech Monday, for example, Woods highlighted the “supportive role” that the government can play, but he largely focused

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Source: CTRM Center

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