ExxonMobil is leading a chorus of praise from the majors for US president Donald Trump's tax reforms, hailing their potential to raise proft and spur investment. The company plans to spend more than $50bn in the US over the next fve years, compared with around $47bn in 2013-17. "These investments are under-pinned by our unique strengths and enhanced by the historic tax reform recently signed into law," chief executive Darren Woods says. Shell, which invests on a similar scale in the US, shares ExxonMobil's enthusiasm. "We are already spending around $10bn/yr in the US," chief fnancial ofcer Jessica Uhl says. "The tax change will have a material impact in terms of the cash that we will be able to generate, and should encourage further investment."
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