Axios

Exxon Mobil Corp. is making its closely watched analyst presentation today, and it underscores how the global oil giant is bullish on U.S. drilling projects. Exxon's plan to boost capital spending by $3 billion to $22 billion this year includes a big chunk of cash devoted to shale oil projects—the stuff tapped by fracking—in Texas, New Mexico and North Dakota.

More than one quarter of the planned spending this year will be made in high-value, short-cycle opportunities, including in the Permian and Bakken basins. — From Exxon's summary

Why it matters: Exxon's plan signals that the country's most powerful oil company is confident about making money from U.S. oilfields even as prices remain modest. "These resources are robust at lower prices," new CEO Darren Woods said in his presentation Wednesday.

The background: Exxon has been spending aggressively to expand its footprint in the Permian region that straddles Texas and New Mexico. Exxon said it has more than 5,500 wells in the Permian and North Dakota's Bakken region that provide better than 10 percent returns even if oil prices are as low as $40 per barrel, with nearly one-third offering "significantly higher" profits. Prices are currently trading at roughly $54 per barrel.

Add one more to the growing list of grievances over Silicon Valley companies' treatment of women: A female engineer at Tesla has sued the electric car maker alleging "pervasive harassment" such as being paid less than male counterparts and a culture of inappropriate behavior toward women, the Guardian reports.

Until somebody stands up, nothing is going to change. I'm an advocate of Tesla. I really do believe they are doing great things. That said, I can't turn a blind eye if there's something fundamentally wrong going on. — Accuser AJ Vandermeyden tells the Guardian

Why it matters: Vandermeyden is putting the spotlight on Tesla as Uber is still dealing with the fallout from revelations of widespread sexism brought to light in a blog post by former engineer Susan Fowler Rigetti. The gender gap in Silicon Valley has persisted for years, but pressure is mounting for companies to respond to allegations and proactively change their office cultures.

U.S. crude oil exports have exceeded 1.2 million barrels a day, per the Financial Times. That follows the lifting of a 40-year-old ban on crude oil exports in 2015, and far exceeds baseline projections. As the FT points out, the strong exports are a result of:

• The oil glut in the world market has made U.S. oil a relative bargain compared with other grades.
• A rebound in oil prices last year has encouraged U.S. companies to increase drilling. The EIA estimates domestic production is above 9 million barrels a day for the first time in 10 months.
• U.S. refineries, unlike OPEC, haven't done much to "mop up" the glut.
• Rates for leasing supertankers have declined, making its cheaper to transfer oil to foreign countries.

Why this matters: The situation poses a threat to Saudi Arabia and other key OPEC members, which have historically had control over the oil industry and the power to gauge pricing. But following the group's November agreement to curtail oil output, concerns about tighter oil supplies have led foreign countries to look elsewhere — such as to the U.S. — for their supply.