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Posted by raybond on :
 
Exxon CEO Comes Out Against Fracking Project Because It Will Affect His Property Values


By Rebecca Leber on February 21, 2014 at 2:16


"Exxon CEO Comes Out Against Fracking Project Because It Will Affect His Property Values"



Rex W. Tillerson
CREDIT: AP/LM Otero

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.

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.

Though Tillerson’s name is on the lawsuit, a lawyer representing him said his concern is about the devaluation of his property, not fracking specifically.

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. Natural gas production “is an old technology just being applied, integrated with some new technologies,” he said in another interview. “So the risks are very manageable.”

In shale regions, less wealthy residents have protested fracking development for impacts more consequential than noise, including water contamination and cancer risk. Exxon’s oil and gas operations and the resulting spills not only sinks property values, but the spills have leveled homes and destroyed regions.

Exxon, which pays Tillerson a total $40.3 million, is staying out of the legal tangle. A spokesperson told the WSJ it “has no involvement in the legal matter.”


Update


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.
 
Posted by NR on :
 
Read the original WSJ article and the actual lawsuits if you want the truth. There is way more going on here than what is being suggested by this article. The headline is completely false and intentionally misleading.

It is only irony that one of the plantiffs happens to be a CEO of Exxon, and some of the water in low demand months may be sold to energy companies to be used for fracing.

Since we are on the topic, where do you stand on the issue of hydraulic fracing Ray?
 
Posted by raybond on :
 
I am not really for it , fracing does not bother me to much of course fracing is not being done near my home if it was out of my own selfish reasons I would be fighting it.
 
Posted by NR on :
 
Ok, well let me know if a utility company decides to build a 16 story water tower next to your property in violation of local zoning ordinances, that may or may not supply water to a prison, so I can write an article painting you as a hypocrate for opposing your local prison and spread it all over the internet.
 
Posted by raybond on :
 
If it is in violation of zoning it should not be built to begin with. I don't know where you are going with your questions how could you obtain a permit and get approval to build a water tower in an area that is not zoned for that structure?
 
Posted by glassman on :
 
i think fracing can be done properly.

fracing has put the USA "back on top" in terms of energy production. in fact, my Due Dilligence indicates we have a glut of natgas and that if we had not had one this winter, we'da seen serious damage to the economy from energy costs. natgas from fracing will be replacing coal electric plants for a few decades. maybe that will give us time o develop cleanER coal fire electric generators.


since Fukushima my supprot for new nuclear par plants has declined. mostly becuase i recognise thatthe Japanes have some of the highest attention to detail int he engineering world adn they effed up bad. I do think nukes could be very safe, but by the time we figger out how to them sefely enough, we'll have fusion power worked out.

we are very close to "hot fusion" now and any day the solution will pop into somebody's head...

cold fusion? hell don't even mention it out loud for now...
 
Posted by NR on :
 
You don't know where I am going with my questions Ray because you never bothered to do any DD on the article you posted. You probably just saw that it went along with what I can only assume is your anti-oil/fracing/big corporation agenda, and then cut and paste.

I'm not going to do your DD for you. If you want to have a serious discussion about this, (as I would assume you wanted by posting it in the first place), I suggest you follow the advice in my first post and either read the original WSJ article, or better yet, the actual lawsuit itself.

I won't hold my breath waiting for a response.
 
Posted by IWISHIHAD on :
 
Originally Posted By Glassman:
since Fukushima my supprot for new nuclear par plants has declined. mostly becuase i recognise thatthe Japanes have some of the highest attention to detail int he engineering world adn they effed up bad. I do think nukes could be very safe, but by the time we figger out how to them sefely enough, we'll have fusion power worked out
-------------------------------------------------

Nuke power is on the upswing again, people forget quickly.
The good news is they shut down San Onofre, this was a nuke plant ready for a huge disaster.

Sitting over the ocean on a cliff in earthquake country was asking for trouble, thank goodness they got smart before they took out a marine base and lots of local high priced communities.

I am not against nuke power either,if kept as safe as possible and in the right location.

-
 
Posted by raybond on :
 
Tillerson represents a company that uses and promotes fracturing. He is part of a lawsuit aimed at protecting his property value he says the water tower that is necessary to the drilling operation will decrease property values. I guess he wants it somewhere else.

As for me you want to know what I think of water towers I live near one. As for Tillerson ask him where he wants the tower moved to.

As for the DD the article speaks for it self he clearly wants the all the good and none of the negative of fracturing near him or his family.
 
Posted by NR on :
 
Sorry Ray, nice try. The article you posted above is utter rubbish.

As I said before, this is a zoning issue. In no way is the tower being built solely for the purpose of providing water for drilling operations.
 
Posted by NR on :
 
Here, give me your hand and I'll point you in the right direction...

http://www.star-telegram.com/2014/02/25/5601331/exxon-mobil-ceos-lawsuit-ironicb ut.html
 
Posted by raybond on :
 
No nice try the article stands as far as I am concerned. As far as tillerman goes around comes around
 
Posted by raybond on :
 
Tom Knox, Reporter - Columbus Business First
UPDATE: The Dallas Business Journal, a sister publication, has more on the lawsuit. Click here to read more .


The CEO of Exxon Mobil Corp. is joining opponents of a proposed water tower who fear it could lead to fracking-related traffic near their homes.

Rex Tillerson, CEO of the biggest natural gas producer in the U.S., has joined a lawsuit along with neighbors in his Texas town to block the water tower, the Wall Street Journal reports. The problem isn’t the tower itself — it’s oil-and-gas drilling and its accompanying noise and traffic that may come with it.

An attorney for Tillerson told the paper the executive’s main beef is that his property value could be impacted. The nearly 15-story water tower would be next to an 83-acre horse ranch Tillerson and his wife own and a short distance away from their 18-acre homestead.
 
Posted by IWISHIHAD on :
 
Originally Posted By Raybond:

The CEO of Exxon Mobil Corp. is joining opponents of a proposed water tower who fear it could lead to fracking-related traffic near their homes.

Rex Tillerson, CEO of the biggest natural gas producer in the U.S., has joined a lawsuit along with neighbors in his Texas town to block the water tower, the Wall Street Journal reports. The problem isn’t the tower itself — it’s oil-and-gas drilling and its accompanying noise and traffic that may come with it.

An attorney for Tillerson told the paper the executive’s main beef is that his property value could be impacted. The nearly 15-story water tower would be next to an 83-acre horse ranch Tillerson and his wife own and a short distance away from their 18-acre homestead
-------------------------------------------------

What's good for the goose is good for the gander.

Like Exxon hasn't pulled things like this before. We know big money gets zoning changes and special clearances all the time.

-
 
Posted by NR on :
 
Here Ray, for when you decide to take those blinders off...

http://www.scribd.com/doc/208446910/Water-Tower-Lawsuit
 
Posted by IWISHIHAD on :
 
After quickly reading through the lawsuit, the only conclusion i can draw is that, it's a lawyers best dream. Lot's of money and real easy to spread out over lot's of years.

Cities change zoning's all the time. Money talks when it comes to what's best developement for a particular city.

One consideration of mine would be who owned the land first, the developement company or the company trying to put in the tower. There are several other things i would find out before i would venture and opinion on who is right.

After dealing with a city on property, it's a nightmare of how cities decide what zoning is allowed and how it can constantly change. Of course this is always for the best of the city each time they change it.

Here is one for anyone that dares venture at an answer.

If asked for a chain of title on a property,
and this chain of title needs to date back prior to creation. What would you give this person asking for it. Isn't this an oxymoran.

-
 
Posted by NR on :
 
Area water tower project still afloat

http://www.dentonrc.com/local-news/local-news-headlines/20141022-area-water-towe r-project-still-afloat.ece
 


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