#Exxon CEO Joins Lawsuit Against Fracking Project Because It Will Devalue His $5 Million Property
▻http://ecowatch.com/2014/02/21/exxon-ceo-joins-lawsuit-concerned-fracking-devalues-property
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.”