President Barack Obama on Tuesday (Dec. 20) designated the bulk of U.S.-owned waters in the Arctic Ocean and certain areas in the Atlan... Read More
March 15, 2017
The energy revolution continues to bring good economic news to an otherwise anemic economy. For years, we've been arguing that America's energy revolution will bring jobs and investment to our economy. Now, there's a new example to demonstrate just how true that is. Today at the annual CERAWeek 2017 conference, ExxonMobil CEO Darren Woods announced a new Growing the Gulf initiative to increase its manufacturing capabilities in the Gulf coast region.
As part of the initiative, the company will be investing $20 billion to build or expand 11 different facilities - creating 45,000 new American jobs.
So why is a giant company best known for oil production investing so much in manufacturing? Last year, the Chamber's Sean Hackbarth captured the essence of how America's energy revolution has sparked a manufacturing revolution as well. The natural gas, crude oil, and gas liquids being produced across the country in record amounts are the chemical building blocks to products we use every day, from clothing to cosmetics to pharmaceuticals. One needs to look no further than the aisles of a department store to see all the plastic products, and that plastic comes from natural gas and oil. Sophisticated high-tech manufacturing facilities turn these energy resources into the products we buy every day.<- Go Back