ExxonMobil to Invest

ExxonMobil says it plans to invest $25 billion-$30 billion/year for the next five years to meet long-term growth in world energy demand. The company did not say which, or if any, portion of that would be allocated to the chemical sector. However, the company said at its annual analyst meeting, held in New York last week, that the chemical business showed “strong performance” in 2008. “In the short term, chemical demand will reflect the health of the global economy,” says senior v.p. Mike Dolan. Dolan: Strong performance in...

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