Fracking

Published on February 21st, 2014 | by Jeremy Bloom

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Exxon CEO sues to stop fracking, says it would hurt his property values

Big surprise. The big oil companies that tell us everything is perfectly safe when it’s in our back yard… have no desire to allow it when their OWN homes are at risk.

Exxon is the biggest gas producer in the US, so EXXON may well be the biggest fracker in the US. And its CEO, Rex Tillerson, has certainly been a big champion of fracking. Just… not when it’s near HIS house.

As ThinkProgress gleefully reports,

As ExxonMobil’s CEO, 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.

… When he is acting as Exxon CEO, not a homeowner, Tillerson has lashed out at fracking critics and proponents of regulation. “This type of dysfunctional regulation is holding back the American economic recovery, growth, and global competitiveness,” he said in 2012.

… Exxon’s oil and gas operations and the resulting spills not only sinks property values, but the spills haveleveled homes and destroyed regions.

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About the Author

Jeremy Bloom is the Editor of RedGreenAndBlue. He lives in Los Angeles, where he combines his passion for the environment with his passion for film, and is working on making the world a better place.



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