CEO of Exxon LOVES fracking unless it's near his ranch...why is that, I wonder?
Rex Tillerson, CEO of ExxonMobile, is a staunch supporter of fracking. But bring that business anywhere near his Bartonville, Texas, ranch and he'll sue.
Tillerson has developed a reputation for his unwavering support of fracking. The practice is key to Exxon's business, and Tillerson is highly critical of efforts to regulate it, according to Forbes.
"This type of dysfunctional regulation is holding back the American economic recovery, growth and global competitiveness," Tillerson lashed out on one occasion, Forbes reported.
But when remnants of fracking com to Tillerson's neighborhood his tune changes. Instead of concerns about America's best interest and Exxon's energy future, Tillerson's focus becomes the unpleasant effects it has on the quality of life and real estate values, Forbes noted. And he's willing to take legal action.
The Exxon CEO joined a lawsuit to shut down a water tower that's to be used to supply fracking near his ranch. And Tillerson isn't just a passive supporter asked to sign a community petition. No, he went to a town hall meeting to personally protest against the construction of the water tower, according to The Wall Street Journal.
News of the lawsuit arose days after the Weather Channel published an in-depth report of the nasty effects natural gas drilling has on Texas' air quality, Amy Silverstein wrote in her Dallas Observer blog.
To be fair, Silverstein noted, the lawsuit Tillerson and his neighbors filed doesn't concern itself too much with the larger implications of natural gas drilling. Mostly, the plaintiffs just want to talk about how a 160-foot water tower is too big and ugly to fit in wealthy, attractive places like Bartonville.
Though Tillerson is clearly against dysfunctional fracking regulation, the lawsuit charges, "This monstrosity will mock the purpose of the Bartonville zoning ordinance."
The lawsuit also describes the tower's location as "abnormal and out of place for the surroundings." In addition to not being pretty enough, Bartonville residents are concerned about the noise and traffic that will result from the heavy trucks hauling the water.
None of the concerns set forth in the lawsuit ever seemed to trouble Tillerson when those issues were plaguing other neighborhoods, Forbes stated.
And though the official outcome of the case remains to be seen, "the lawsuit already has a winner, and that winner is irony," Silverstein quipped.
http://www.moneynews.com/Markets/Tillers…
So...is it OK to drill or put an eyesore water tower in impoverished rural areas?
Can you say "HYPOCRITE"?
How about GREEDY ****???
@Rick - that would be "ironic" wouldn't it?
@Peace - Yes, I'm saying *I* oppose all fracking everywhere...however, that doesn't happen to be the question. I'm wondering why a CEO would a oppose a watertower used specifically for hydraulic fracturing. He has a choice, he can move. Unlike folks in northeastern Pennsylvania whose property values have dropped and are unable to do anything about it.
@IceT- man, no one can ask a question without some kneejerk troll bringing up Obama, Kennedy, or someone else who has nothing to do with the subject or the question...thanks for showing up and not disappointing.
@Wolf- link works fine, maybe it's your browser that's not working too well living in your mother's basement
http://www.moneynews.com/Markets/Tillerson-fracking-Texas-water-tower/2014/02/25/id/554608
@George - I comprende just fine. How about you? "The Exxon CEO joined a lawsuit to shut down a water tower that's to be used to supply fracking near his ranch."
@George- vertical fracking has been around since the 40s and has not produced much. It wasn't until 2005 when horizontal fracking was discovered that it became as widespread as it is.