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Gas prices and industry earnings: A few things to think about the next time you fill up

Here’s a simple fact of economics that’s getting everyone in Washington pretty excited this week: When prices increase for a commodity like oil, companies that produce and sell that commodity earn more money.

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Yet another attempt to undermine the nation’s energy industry

Yet another attempt to undermine the nation’s energy industry.

What’s Up with U.S. Gasoline Prices

Gasoline prices have been increasing over the past few weeks.

New Oil Spill Containment System to Protect Gulf of Mexico Planned By Major Oil Companies

ExxonMobil is actively involved in significant industry efforts to improve spill prevention and response.  On July 21, we announced that ExxonMobil is leading an effort on behalf of four sponsor companies—including Chevron, ConocoPhillips and Shell—to build and deploy a rapid response system in event of a potential spill in the deepwater Gulf of Mexico.  Click here to learn more about the effort.

Oil, natural gas supports 9 million American jobs, 7.5 percent of GDP

The economic impact of the oil and natural gas industry reaches all 50 states and the District of Columbia a new study by PricewaterhouseCoopers (PwC) found. The study entitled “The Economic Impacts of the Oil and Natural Gas Industry on the U.S. Economy: Employment, Labor Income and Value Added” notes the U.S. oil and natural gas industry supports more than 9 million American jobs, and added more than $1 trillion to the national economy, or 7.5 percent of the U.S. gross domestic product, in 2007, the most recent year for which data was available. Click here to read the report.