Exxon Mobil agrees to share more data on fracking risks by Ernest Scheyder, Reuters, April 3, 2014, The Globe and Mail
Exxon Mobil Corp., the world’s largest publicly traded oil company, has agreed to disclose more information about the environmental risks of hydraulic fracturing, the process known as fracking. In an agreement with New York City’s pension funds, which control Exxon shares worth roughly $1.02-billion (U.S.), the company would report on risks surrounding disposal of fracking waste water, air pollution, methane emissions from oil and natural gas wells, and other issues. Exxon plans to compile the information and publish it as a report on its website by September. [In the meantime, drill and frac, and drill and frac, everywhere and anywhere ignorant communities and landowners believe industry and regulator lies and bite the bribes]
The New York City Comptroller’s office, which controls the city’s pension funds, agreed as part of the deal to withdraw a shareholder proposal that would have put the disclosure issue up for a vote at the company’s next annual meeting. The comptroller’s office said it essentially believes that without such information, it cannot make adequate investment decisions and thus part of the pension funds’ investment could be in danger.
“Corporate transparency in this arena is truly necessary for assessing risk and ensuring that all stakeholders have the information they need to make informed decisions,” Scott Stringer, the city’s comptroller, said in a statement.
Last year a similar shareholder proposal received support from roughly 30 per cent of shares cast at Exxon’s annual meeting.
An agreement with the comptroller, rather than a confrontational shareholder vote, was the most constructive way to address concerns about fracking with the public, said Exxon spokesman Alan Jeffers.
“We understand people have concerns. This activity (fracking) is somewhat new and not understood in some parts of the country,” Jeffers said. “People want more information and the more they know, the better.” [Emphasis added]
[Refer also to:
“Exxon CEO Joins Suit Citing Fracking Concerns Residents of Dallas Suburb Fight Construction of Tower That Would Provide Water for Drilling
BARTONVILLE, Texas—One evening last November, a tall, white-haired man turned up at a Town Council meeting to protest construction of a water tower near his home in this wealthy community outside Dallas. The man was Rex Tillerson, chairman and chief executive of Exxon Mobil Corp. He and his neighbors had filed suit to block the tower, saying it is illegal and would create ‘a noise nuisance and traffic hazards,’ in part because it would provide water for use in hydraulic fracturing.”
“This monstrosity will mock the purpose of the Bartonville zoning ordinance, the primary purpose of which is to protect the citizens and their property from uses ‘detrimental to or endanger[ing] the public health, safety, morals, comfort, or general welfare;’ from ‘uses which substantially impair and diminish the uses, values, and enjoyment of other property in the neighborhood for purposes already permitted.’
… Plaintiffs have and will continue to be damaged and injured by Defendants’ conduct unless Defendants are restrained and enjoined, and they have no legal remedy sufficient to protect their interests because even though the damages might compensate them for their diminished property values, damages cannot compensate fully for the substantial interference with Plaintiffs’ use and enjoyment of their land by causing unreasonable discomfort and annoyance to persons of ordinary sensibilities, and damages cannot fully compensate plaintiffs for the emotional harm they have sustained from the deprivation of the enjoyment of their property because of fear, apprehension, offence, loss of peace of mind, visual blight or other similar acts or circumstances.
… The construction of the water tower will create a constant and unbearable nuisance to those that live next to it.
A water tower will have lights on at all hours of the night, traffic to and from the tower at unknown and unreasonable hours, noise from mechanical and electrical equipment needed to maintain and operate the water tower, and creates and unsafe and attractive nuisance to the children of the area.
Furthermore, water towers can create an attractive nesting spot for invasive species of bird and other animals.
These animals will befoul Plaintiffs properties if the water tower is left to stand.
Further, upon information and belief, BWSC will lease or sell rights to third parties for the location of antennas and cell towers.
Furthermore, upon information and belief, BWSC will sell water to oil and gas explorers for fracing shale formations leading to traffic with heavy trucks on FM 407, creating a noise nuisance and traffic hazards.”