Chamber of Commerce praises ExxonMobil initiative for Gulf coast

ExxonMobil's CEO has announced a new initiative that will increase the company’s manufacturing capabilities in the Gulf coast.

Darren Woods made the announcement about the Growing the Gulf plan at the CERAWeek 2017 conference.
The company has committed to investing $20 billion in 11 different facilities, which will see 45,000 new U.S. jobs created.

The decision is a sign that the energy industry in the U.S. has been developing as the epicenter of a manufacturing renaissance, according to the U.S. Chamber of Commerce. The view stems from a 2014 report issued by the Chamber’s Energy Institute alongside Shale Works for US that “quantified the far-reaching benefits from the shale revolution.”

“It’s exciting to see these predictions borne out, and it’s a continued sign that America’s status as an energy superpower will help bring prosperity to us all—while driving innovation and technological advancement that help make America an economic superpower as well,” wrote Karen Alderman Harbert, the president and chief executive officer of the U.S. Chamber of Commerce’s Institute for 21st Century Energy.

According to Harbert, “One needs to look no further than the aisles of a department store to see all the plastic products, and that plastic comes from natural gas and oil.”

The Chamber’s Sean Hackbarth previously noted that the U.S. energy revolution was spilling over into the manufacturing industry.