Exxon Mobil (XOM) statement regarding President Biden Letter to Oil Industry

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Go back to Exxon Mobil (XOM) statement regarding President Biden Letter to Oil Industry

ExxonMobil statement regarding President Biden Letter to Oil Industry

June 15, 2022 2:46 PM EDT

IRVING, Texas--(BUSINESS WIRE)-- ExxonMobil today released the following statement in response to a letter from President Biden.

We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period.

Globally, weve invested double what weve earned over the past... More