Exxon Mobil to invest $50 billion in US over 5 years, citing tax reform Exxon Mobil on Monday said it plans to invest $50 billion in the United States over the next five years, saying its decision is partly due to corporate tax cuts. The investment will go towards increasing production in the Permian basin in western Texas and eastern New Mexico. Exxon announced $20 billion in spending for U.S. Gulf Coast manufacturing in March. 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 corporate tax cuts. The announcement puts Exxon on the board with a number of other companies that have announced employee bonuses and investments following President Donald Trump and GOP lawmakers' tax overhaul. "These investments are underpinned by the unique s...
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