Exxon Mobil, the world’s largest publicly traded oil company, on Monday said it plans to invest $50 billion in the United States over the next five years.
Darren Woods, chairman and CEO of Exxon, said in a blog post that the investment is partly due to recently passed tax cuts.
“These positive developments will mean more jobs and economic expansion across the United States in a myriad of industries,” Woods said in the blog post.
Woods said the investment would complement “substantial capital spending” earmarked for the United States that Exxon has teed up.
However, it was not immediately clear if the $50 billion included a $20 billion investment in Gulf Coast manufacturing over a 10-year period, which Exxon announced in March. Exxon did not immediately return a request for clarification.
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