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Monday, March 6, 2017

Trump's Greatest Innovation: Time Travel

ExxonMobil actually planned this expansion back in 2013 -- and used its news to help increase its market valuation (Tillerson likely got a nice payday out of it back then). Interestingly enough, the recycled news just got another half a percent increase for ExxonMobil (roughly $1.5 billion).

Here's a quote from the original press release:
Exxon Mobil Corporation (NYSE:XOM) is commencing development of the Julia oil field in the Gulf of Mexico.
Capital cost for the project, which is expected to begin oil production in 2016, is estimated to be more than $4 billion. The field was discovered in 2007 and is estimated to have nearly six billion barrels of resource in place.
“The development of Julia will provide a new source of domestic energy and well-paying jobs over the next several years,” said Neil W. Duffin, president of ExxonMobil Development Company. “Access to resources such as Julia will contribute to U.S. energy security for many years to come.”
Bold emphasis mine.

So $1.5 billion and great publicity for something they had already announced. Rex "fourth-in-line-for-the-presidency" Tillerson's doing pretty well for himself in Trump's Cabinet.

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