capital investments to meet future energy needs

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We are working hard to bring more oil and gas to market to meet growing energy needs. Long-term solutions to enable reliable energy must include massive investment into finding new supplies of oil and gas and efficiently producing and using energy.

• Over the past two decades, from 1988 through 2007, ExxonMobil invested over $191 billion in global oil and gas capital and exploration expenditures in the "Upstream" sector of our business, and earned nearly $200 billion. Our earnings over this period were almost entirely re-invested into developing new oil and gas supplies.
• In 2007, our capital and exploration expenditures in a range of energy activities — including exploring for oil and gas and the expansion of production and refining capacity — were $21 billion and we estimate that they will average over $25 billion annually in the next five years (2008-2012).
• From 2008 to 2010, we expect to start up 19 new projects which, at peak, would collectively add more than 725,000 oil-equivalent barrels per day to ExxonMobil's production.
• In the past 25 years (1983 - 2007), our capital and exploration expenditures of over $355 billion exceeded our earnings over the period.
• 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.