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Title : Making American Great -- To Infinit And Beyond -- March 6, 2019
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Making American Great -- To Infinit And Beyond -- March 6, 2019

This is really quite incredible, today's corporate presentation by ExxonMobil.

But first a quick observation. Look at this screenshot, taken from an early slide in the presentation:

What do you notice? Finally, someone has quit mixing "Latin" abbreviations with "Anglicized" abbreviations. For eleven years doing the blog, I've been bugged by using the Latin "M" for a thousand and "MM" for a million but "B" for billion.

Finally, Exxon does it right:

• "K" for "thousand"
  "million" for "million"
• "B" for "billion"

But the "oebd" is a bit backwards -- "oil equivalent bbls day" instead of the industry standard of "boepd" - bbls oil equivalent per day.

Perhaps Exxon has done this for years, but this is the first time I've noticed it.

Okay, now back to the presentation. Some data points:

• Permian production guidance:
• • one year ago at the 2018 Investor Day presentation: 600,000 boepd by 2025
  • one year later at the 2019 Investor Day presentation: greater than 1 million boepd by 2024
• seven new facilities online and 6 more on schedule (as forecast one year ago)
• global demand going forward takes "AGW" into consideration
• • without AGW: new supply of 550 billion bbls of oil and 2,100 trillion cubic feet of natural gas required
  • with 2-degree Celsius "AGW": 370 billion bbls of oil; 1,750 trillion cubic feet of natural gas
• fuel oil demand drops off the chart! -- slide 10
• robust results even at $40-oil
• plan to grow earnings ~3x by 2025 at $60/bbl flat price
• • for the archives: today, EPS = $4.88 (Yahoo!Finance); 3 * $4.88 =  $14.64 (I'll believe it when I see it)

I'm going to quit here, about slide 15. There are 122 slides in the presentation.

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