Oil giant’s $40bn investment in Australia is worth $10bn
The head of ExxonMobil is visiting Australia next week as part of his $40 billion investment in the nation’s oil and gas sector.
The oil giant is set to announce a $10 billion investment into Australia’s renewable energy industry next week after the Federal Government announced plans to open up more coal-fired power stations.
Exxon is also set to make a $1 billion investment to help the country’s energy security and boost the energy security of small businesses.
The announcement is being made in Melbourne, where the Exxon CEO, Rex Tillerson, will speak at a climate conference organised by the Australian Council for Industrial Relations.
“I am very excited to be in Australia this week to speak at the National Council of Clean Energy and Environment’s (NCCEE) Clean Energy Summit,” Mr Tillerson said in a statement.
“This event is a great opportunity to build on the momentum created by the Government’s new Clean Energy Finance Initiative (CEFI) and demonstrate the value of clean energy for Australia.”
The Exxon CEO will address the conference on Friday, where he will outline his company’s plans to help Australian businesses, as well as address issues of climate change.
“Our goal is to ensure that the global clean energy industry is thriving and that it contributes to reducing greenhouse gas emissions,” he said.
“The global economy is changing and the need for clean energy will only get bigger.”
It’s our mission to help meet this challenge.
“The National Clean Energy Council (NCECE) is one of several organisations that have been working to make Australia a leader in renewable energy.
The Council was set up by the Rudd government in 2015 and has since established the Australian Renewable Energy Agency (ARC), an independent agency that helps the country make the best use of renewable energy resources.
The ACCE has been working with the industry and government to develop policy and programs to encourage investment and create jobs.”
We are seeing an unprecedented increase in the number of people coming into the energy sector,” Ms Henson said.
The State Government announced a $12.6 billion stimulus package for renewable energy in 2016, and a further $2.3 billion was spent on clean energy projects.”
And we have a big opportunity to make this a reality in this critical period for our economy and our future.””
This will be an exciting day for all of us.”
And we have a big opportunity to make this a reality in this critical period for our economy and our future.
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