Capital investments to meet future energy needs

Meeting growing global energy demand requires sustained investments, through periods of both low and high commodity prices. ExxonMobil plans to invest at record levels — between $25 to 30 billion annually — over the next five years.

• The International Energy Agency estimates that $11.7 trillion in new investments in oil and gas supplies will be needed in the 2007 to 2030 timeframe — close to $500 billion annually.
  
• ExxonMobil plans to invest at record levels through the current business cycle, including a projected $29 billion this year. We are committed to sustaining investments in our current portfolio of 120 development projects around the world, in order to meet growing energy needs.
  
• Nine major projects are expected to commence production in 2009, and at their peak are expected to add the net equivalent of an additional 485,000 barrels per day to production.
  
• We plan to invest more than $1 billion in low-sulfur diesel projects at three refineries in the U.S. and Europe, which when complete in 2010 will allow additional low-sulfur diesel production of about 6 million gallons per day.
  
• Since 1983, ExxonMobil's capital and exploration expenditures were over $381 billion and exceeded our earnings over the period.
  
• In 2008, ExxonMobil spent more than $1 billion per day to produce energy and deliver energy and chemical products around the world.
  
• We depend on high earnings during the "up" cycle of our commodities-based business to sustain investment levels over the long-term, including the "down" cycles.