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Jim Lo Scalzo / AP

Exxon Mobil said Monday that it plans to spend $20 billion over 10 years on refineries, chemical and liquefied natural gas plants along the Gulf Coast, per AP. CEO Darren Woods said that the company will expand its currents plants as well as construct new ones to help bolster production of its petroleum products, adding that the investment will create 12,000 permanent jobs.

As the AP points out, the $20 billion would roughly equal the company's total capital spending in 2015. Last week Exxon announced that it plans to increase overall investments to an average of $25 billion a year from 2018 to 2020.

Following the announcement, Trump tweeted his thanks to Exxon for continuing to "Buy American & hire American": "45,000 construction & manufacturing jobs in the U.S. Gulf Coast region. $20 billion investment. We are already winning again, America!"

Go deeper

Dan Primack, author of Pro Rata
29 mins ago - Technology

TikTok gets more time (again)

Illustration: Aïda Amer/Axios

The White House is again giving TikTok's Chinese parent company more to satisfy national security concerns, rather than initiating legal action, a source familiar with the situation tells Axios.

The state of play: China's ByteDance had until Friday to resolve issues raised by the Committee on Foreign Investment in the U.S. (CFIUS), which is chaired by Treasury secretary Steve Mnuchin. This was the company's third deadline, with CFIUS having provided two earlier extensions.

Federal judge orders Trump administration to restore DACA

DACA recipients and their supporters rally outside the U.S. Supreme Court on June 18. Photo: Drew Angerer via Getty

A federal judge on Friday ordered the Trump administration to fully restore the Deferred Action for Childhood Arrivals program, giving undocumented immigrants who arrived in the U.S. as children a chance to petition for protection from deportation.

Why it matters: DACA was implemented under former President Obama, but President Trump has sought to undo the program since taking office. Friday’s ruling will require Department of Homeland Security officers to begin accepting applications starting Monday and guarantee that work permits are valid for two years.

Updated 3 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Fauci says he accepted Biden's offer to be chief medical adviser "on the spot" — The recovery needs rocket fuel.
  2. Health: CDC: It's time for "universal face mask use" — Death rates rising across the country — Study: Increased testing can reduce transmission.
  3. Economy: U.S. economy adds 245,000 jobs in November as recovery slows — America's hidden depression: K-shaped recovery threatens Biden administration.
  4. Cities: Bay Area counties to enact stay-at-home order ahead of state mandate
  5. Vaccine: What vaccine trials still need to do.
  6. World: UN warns "2021 is literally going to be catastrophic"
  7. 🎧 Podcast: Former FDA chief Rob Califf on the vaccine approval process.

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