JOBS, JOBS, JOBS: Trump gushes about Exxon on Twitter after oil giant announces investment plan in the Gulf
- Oil giant ExxonMobil has announced a plan to invest $20 billion over five years in chemical and oil refining plants
- The company says 35,000 temporary construction jobs and 12,000 permanent jobs could be created
- Trump crowed about the announcement, saying: 'We are already winning again, America!'
- 'Thank you @exxonmobil'
- The president used the wrong word when saying the move affirmed his 'principals'
- Trump's secretary of state Rex Tillerson stepped down as the head of ExxonMobil to take the post
President Donald Trump gushed about oil giant ExxonMobil Monday after the new company CEO announced plans to invest $20 billion in Gulf state refining and chemical facilities.
The president seized on the announcement as an affirmation of his campaign and governing agenda, after spending hours meeting with company CEOs at his private properties and at the White House to try to get them to goose investment.
'Buy American & hire American are the principals at the core of my agenda, which is: JOBS, JOBS, JOBS! Thank you,' Trump wrote, mistakenly using the wrong word to state his principles.
In another tweet, he wrote: '45,000 construction & manufacturing jobs in the U.S. Gulf Coast region. $20 billion investment. We are already winning again, America!'
Donald Trump said in a tweet: 'We are already winning again, America!'
Chairman and CEO Darren Woods said Monday that the company would create 12,000 permanent jobs and 35,000 in construction as the company invests in its chemical and refining plants.
The $20 billion would roughly equal the company's capital spending for the prior year, but would be spent over a decade, according to an official release.
The release also said some of the investments began in 2013, when Trump wasn't even in office, making it difficult to ascertain what impact if any the new administration had on the company's plans.
'Investments began in 2013 and are expected to continue through at least 2022,' according to a company release.
'Exxon Mobil is building a manufacturing powerhouse along the U.S. Gulf Coast," Woods said in a speech at the gathering of oil execs CERAWeek, Reuters reported. "These businesses are leveraging the shale revolution to manufacture cleaner fuels and more energy-efficient plastics."
President Trump (R) pictured along with former ExxonMobil CEO Rex Tillerson, who is now secretary of state. Trump hailed Exxon's decision to invest $20 billion in its refinery operations
President Trump hailed Exxon's investments on Twitter
SCHOOLED ON PRINCIPALS: President Trump thanked the company on Twitter and invoked his 'principals'
Trump hailed the investment, which began in 2013, before he took office
Trump's secretary of state Rex Tillerson stepped down as the head of ExxonMobil to take the post.
Trump also praised the oil investments in an official White House statement.
'Many of the products that will be manufactured here in the United States by American workers will be exported to other countries, improving our balance of trade,” Trump said. “This is a true American success story.”
'This is exactly the kind of investment, economic development and job creation that will help put Americans back to work,' Trump said.
US President Donald Trump greets Secretary of the Treasury Steve Mnuchin (center) and Secretary of State Rex Tillerson (right) after delivering his address to Congress
An official company released noted the country's oil shale boom, and said the investment would pour into Texas and Louisiana, leading to jobs that in most cases pay $100,000 a year.
“The United States is a leading producer of oil and natural gas, which is incentivizing U.S. manufacturing to invest and grow,” said Woods.
“We are using new, abundant domestic energy supplies to provide products to the world at a competitive advantage resulting from lower costs and abundant raw materials. In this way, an upstream technology breakthrough has led to a downstream manufacturing renaissance.”
Trump's praise for Exxon goes alongside his cheerleading for a number companies that have announced new plans for investment following meetings with him.
In many cases, Trump has taken credit for the investment, though sometimes the plan had been in the works for years.
The White House release also quoted Woods, the Exxon CEO, as praising the administration.
'Private sector investment is enhanced by this Administration’s support for smart regulations that support growth while protecting the environment.”
Trump has stressed rolling back regulations, as his administration moves to slash funding for the Environmental Protection Agency.
Trump signed an early executive order to allow for construction of the Keysteone XL pipeline, which would bring oil from Canada's tar sands to the Gulf.
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