Pommer
CoPacEtiC SkEpTic
- Sep 13, 2008
- 23,340
- 14,380
- Country
- United States
- Gender
- Male
- Faith
- Deist
- Marital Status
- In Relationship
- Politics
- US-Democrat
We welcome this opportunity to remain on the sidelines until things are settledExxonMobil Chairman and CEO Darren Woods delivered these remarks at the White House
I’ll just share a philosophy that ExxonMobil has when we enter countries—because we do business all around the world, in a number of different regimes—we take a very long‑term perspective. The investments that we make span decades and decades. So, we do not go into any opportunity with a short-term mindset.
There's a value proposition that we have to meet. It has to be a win‑win‑win proposition. Obviously, it has to be a win for the company and our shareholders, generating a return for the investments that we make. It has to be a win for the government. The resources are an important source of revenue that help support the people of the places that we do business. And it has to be a win for the people. We have to be wanted there— and to be a good neighbor. And those three things ensure a stable, long‑term platform for the large investments that we make for the long term.
If we look at the legal and commercial constructs—frameworks—in place today in Venezuela, today it’s uninvestable. And so significant changes have to be made to those commercial frameworks, the legal system, there has to be durable investment protections, and there has to be a change to the hydrocarbon laws in the country.
We’re confident that with this Administration and President Trump working hand‑in‑hand with the Venezuelan government that those changes can be put in place. And with respect to the Venezuelan government—that perspective—we don’t have a view on. We haven’t talked to the Venezuelan government, and obviously we have yet to assess the people’s perspective with respect to ExxonMobil entering the country.
With the invitation of the Venezuelan government and with appropriate security guarantees, we are ready to put a team on the ground there. [to assess the current situation]
Upvote
0