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Saturday, February 22, 2014

Exxon CEO Comes Out...Against Fracking Project

...because it affects his property value...interesting.

"As ExxonMobil’s CEO, annual salary $40.3 million, it’s Rex Tillerson’s job to promote the hydraulic fracturing enabling the recent oil and gas boom, and fight regulatory oversight. The oil company is the biggest natural gas producer in the U.S., relying on the controversial drilling technology to extract it. The exception is when Tillerson’s $5 million property value might be harmed. Tillerson has joined a lawsuit that cites fracking’s consequences in order to block the construction of a 160-foot water tower next to his and his wife’s Texas home. The Wall Street Journal reports the tower would supply water to a nearby fracking site, and the plaintiffs argue the project would cause too much noise and traffic from hauling the water from the tower to the drilling site. The water tower, owned by Cross Timbers Water Supply Corporation, “will sell water to oil and gas explorers for fracing [sic] shale formations leading to traffic with heavy trucks on FM 407, creating a noise nuisance and traffic hazards,” the suit says.

Rep. Jared Polis (D-CO) has formally extended a welcome to Tillerson to the fracking critic club, with this statement Friday: "I would like to officially welcome Rex to the ‘Society of Citizens Really Enraged When Encircled by Drilling’ (SCREWED). This select group of everyday citizens has been fighting for years to protect their property values, the health of their local communities, and the environment. We are thrilled to have the CEO of a major international oil and gas corporation join our quickly multiplying ranks.""