Exxon Hits Back At Biden After Investment Accusations

Exxon has been investing more than it has been earning in the past five years, with the level of investments in new oil and gas supply double the level of profits, the supermajor said in an official response to accusations made by President Biden earlier this week. "We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies," the company said in a statement "This includes investments in the U.S. of more than $50…