Exxon To Spend Less in the US Than It Would Like To

ExxonMobil is going to spend $37 billion this year. In the business world, this money is known as "capital expenditure". When spent by the federal government, this type of money is called "stimulus".

One interesting tidbit, Exxon's CEO notes that the number could have been higher except that the US basically doesn't want the investment.

ExxonMobil Chief Executive Rex Tillerson said Thursday the company expects to spend a record $37 billion on capital projects this year, almost 9% more than it has previously said it was planning to invest.

"We are investing over $37 billion this year," Tillerson said during an interview with CNBC. "We will do more in the U.S. if we are given the opportunity to do so."

A clear example of what I've been saying for over two years now. Capital can flee and capital can sit on its hands, and if attacked and threatened, it will. Sadly, labor needs capital. When capital flees or sits idle, labor does too. This is basic stuff.

Hope and change baby.