Detroit free press archives4/9/2023 This combination of factors and events leaves us in the situation we face today. In part, supplies have not kept pace due to global underinvestment in recent years driven by geopolitical and market forces, public policies, and investor sentiment. Demand for energy, specifically crude oil, has surged as global economies have rebounded from the early part of the COVID-19 pandemic. Several factors have led to a significant and sustained supply and demand imbalance in global oil markets. " Unfortunately, Russia’s actions and the instability it created has contributed to an already forming global energy crisis. The letter begins by acknowledging President Biden's efforts to address Russia's actions and then focuses on how we got here: resource development, such as regular and predictable lease sales, as well as streamlined regulatory approval and support for infrastructure such as pipelines.Īdditionally, buidling on Exxon's suggestions, the American Petroleum Institute - which represents 'Big Oil' - sent a letter to the president offering some advice. Longer term, government can promote investment through clear and consistent policy that supports U.S. government could enact measures often used in emergencies following hurricanes or other supply disruptions - such as waivers of Jones Act provisions and some fuel specifications to increase supplies. We kept investing even during the pandemic, when we lost more than $20 billion and had to borrow more than $30 billion to maintain investment to increase capacity to be ready for post-pandemic demand. light crude by about 250,000 barrels per day – the equivalent of adding a new medium-sized refinery. Specific to refining capacity in the U.S., we’ve been investing through the downturn to increase refining capacity to process U.S. This is a reflection of the company’s long-term growth strategy, and our commitment to continuously invest to meet society’s demand for our products. Globally, we’ve invested double what we’ve earned over the past five years - $118 billion on new oil and gas supplies compared to net income of $55 billion. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. not), Exxon Mobil issued a reasoned response to The White House accusations and scapegoating: (emphasis ours) The Detroit News (Detroit, Mich.Following President Biden's letter to many 'Big Oil' executives, threatening them with forced production quotas, windfall taxes, and/or price-caps (because all those things have proved so successful in past crises.The Detroit Sunday News (Detroit, Mich.) 1917 to 1920.The Detroit News Tribune (Detroit, Mich.) 1915 to 1917.The Detroit Tribune (Detroit, Mich.) 1913 to 1915.The Detroit News-Tribune (Detroit, Mich.) 1905 to 1913.The Detroit Journal (Detroit, Mich.) 1888 to 1922.The Detroit News (Detroit, Mich.) 1920 to 1926.The Detroit Tribune (Detroit, Mich.) 1887 to 1905.The Evening News (Detroit ) 1873 to 1905.: Weekly).įormed by the union of: Evening news (Detroit, Mich.), and: Detroit tribune (Detroit, Mich. : 1915) and: Detroit Sunday news and: Detroit news (Detroit, Mich. : 1913) and: Detroit news tribune (Detroit, Mich. : 1905) and: Detroit tribune (Detroit, Mich. available: Detroit news-tribune (Detroit, Mich. 8, 1968.Īlso issued on microfilm from University Microfilms International, and the Library of Congress, Photoduplication Service. : 1887), and: Evening news (Detroit, Mich.) on some issues, this title incorrectly called: The Detroit News. numbering of: Detroit tribune (Detroit, Mich. Sunday issues include Detroit news editorial page and called Sunday free press, May 7, 2006. : 1858), and called: Detroit news and free press, Dec. Saturday, Sunday, and holiday issues combined with: Detroit free press (Detroit, Mich. Due to strike, combined with: Detroit free press, and called: Detroit news and free press, July 17, 1995-Jan. 15, 1962 combined with: Detroit free press, and called: Detroit News-Detroit free press. 11, 1962 "including best features from The Detroit Times."ĭue to strike, issue of Apr. Published on Sunday with title: Sunday newsĪug. 30, 2006 published with title: Detroit News and Free Press The Detroit News (Detroit, Mich.) 1905-Current.
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