Tag Archives: Economy

CEO Rex Tillerson on Energy Innovation and Investment

Notes from the McCombs Alumni Network’s 8th Annual Alumni Business Conference on February 8, 2012.

Rex Tillerson, Chairman and CEO of Exxon MobilRex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation

“If we are not careful this will become known as the Land of a Thousand Nos.”

Speech Preview Notes:

Innovation creates new opportunity. This has never been more evident than in today’s energy industry, where technological breakthroughs have led to a revolution in domestic unconventional resource development, which in turn has created thousands of new jobs, millions in government revenue and billions in economic growth. Thanks to innovation, an energy transformation is now underway in North America, the dimensions of which are still unfolding. We are breaking new ground in the safe and responsible production of oil sands, shale gas, tight oil and ultra deep water.

To sustain such innovation at the breakneck pace the world needs, the International Energy Agency estimates industry will need to invest $25 trillion by 2030. As you know, successful investment requires long-term vision and discipline as well as a secure and stable environment. For such long-term investment strategies to work, business and government must each know and fulfill their duties. The duty of government is to facilitate the safe and responsible development of energy within the context of a level playing field.

This new era of abundance has made it possible for the United States to meet our nation’s needs for energy and become something we have not been in decades – a major energy exporter. We must work together to build energy policies that strengthen markets, encourage free trade, promote the rule of law and provide a sound and stable policy environment to support the investments that enable continued innovation and improvement. If we can deepen our emerging energy consensus, we will develop the diversity of sources and security of supplies that a growing and more prosperous world needs.

Tillerson’s Remarks on Technology Innovation and Investment:

Rex Tillerson began with a remark sure to please the audience of UT school of business alums. “It’s always a pleasure to get back to the Forty Acres,” he says. “Most of the places I go aren’t this pleasant.”

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The Bottom Five Reasons Austin is a Top Spot for Business

Enough already! Gosh, you are embarrassing us. In case you missed the latest flattery directed at Texas, watch CNBC’s Scott Cohn from the campus of UT Austin announcing the winner of their Top States for Business 2010. This comes hot on the heels of Kiplinger’s announcement that Austin is the Best City for the Next Decade. Not to be left out, I’ve decided to jump in with:

The BOTTOM five reasons Austin is such a fantabulous spot for launching, running and prospering a business.

(Note, these aren’t unimportant reasons, just ones that don’t often make it to the top of the Chamber of Commerce list.)

1) Hundreds of thousands of Californians.

The Golden State has been sending us their best and brightest in waves for decades. Nearly 100,000 tax filers moved from California to Texas in 2008 according to the IRS, but this has been going on since I arrived in Austin in 1985 and discovered that most of my co-workers and clients had moved here in the previous five years, many from the west coast.

It was Californians who drove the growth of all of the really envy-inspiring Austin neighborhoods, as they discovered they could sell their two-bedroom bungalows in Oakland and afford a lake-side mansion below the wooded hills of West Austin. Today, I’m told Californians can’t sell their houses, but they keep coming anyway, dragging their expertise, their creativity and their companies along with them. And they’re being joined by thousands more Americans Swooping Down on Little Travis County, Texas.

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Social Media Panel with Tim Walker, Natanya Anderson and Jason Molin

Tim Walker, Natanya Anderson and Jason Molin
Tim Walker, Natanya Anderson and Jason Molin

Molin and Walker possess curious minds.

I thought you might enjoy this panel discussion on social media from the Association for University Business and Economic Research conference held at the Driskoll Hotel here in Austin. Tim Walker, Jason Molin and Natanya Anderson are the participants.

Molin and Walker possess curious minds. No that’s not an insult, I happen to like their curiosity and interest in all that is fascinating and thought-provoking. It is particularly useful in their field of endeavor, social media. Molin works in the office next to mine and besides being the resident social media evangelist at McCombs he is also a pleasantly talented musician, and an amusing artist.

Walker is a writer and blogger working for Hoover’s, where you can find him noodling around their Business Insight Zone when he isn’t pursuing his Ph.D. in history at UT Austin. If you want a great conversation invite Tim to lunch sometime. I did and enjoyed every minute.

I haven’t met Anderson yet but in checking out her bio I found this very interesting blog entry about a brand debacle she calls Serving Frozen Food to Food Bloggers, an amusing cautionary tale gleaned from her recent trip to a blogger conference in San Francisco.

Visit Jason Molin’s blog for the panel audio clip.