One of the world’s biggest oil companies is making a big investment in the U.S. in response to the new tax law.
French oil giant Total made the announcement on Thursday at the World Economic Forum.
The company’s CEO told President Trump he is working on a big project in the Gulf of Mexico, and is investing two billion dollars into the renewable energy sector.
❄️? Happy to represent French companies at the #Davos diner hosted by President @realDonaldTrump. It was very interesting and casual. That’s what Davos is for: share ideas, exchange views, work on issues and make things go forward. @Total #WEF18 #WEF pic.twitter.com/HmKYUYrOBn
— Patrick Pouyanné (@PPouyanne) January 25, 2018
Total is the world’s fourth largest oil company and already invests around one billion dollars into the U.S. each year.
This comes as numbers show the U.S. economy ending 2017 on a high note, growing 2.6 percent in the fourth quarter.
The economy grew a total of 2.3 percent last year, well ahead of the 1.5 percent growth in 2016.
Economists say President Trump’s newly passed tax law will continue to create more jobs and boost economic growth through the end of this year.