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

[blacken700]

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

   
 http://thinkprogress.org/climate/2014/02/21/3316881/exxon-ceo-protests-fracking/#

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

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


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 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.”

[Necrosis]

HAHAHA he makes 40 mil a year. Holy fuck how in the world could you justify that salary.What the fuck is wrong with people, fucking give back man help a black out you greey glutonous bastard.
This is another example of rich privalege. You fucks are like, don'[t hurt the rich they only  raped our economy and used our money to bail themselves out. He deserves 40 million right?
There is no way he is worth that much, he is not operating the drills, probably knows no geology, nothing. business man making money off the backs of skilled tradesman and academics. You tell me where to drill, I get people to drill, I make 40 million a year because gas cost alot.

[StreetSoldier4U]

HAHAHA he makes 40 mil a year. Holy fuck how in the world could you justify that salary.What the fuck is wrong with people, fucking give back man help a guy out you greey glutonous bastard.
This is another example of rich privalege. You fucks are like, don'[t hurt the rich they only  raped our economy and used our money to bail themselves out. He deserves 40 million right?
There is no way he is worth that much, he is not operating the drills, probably knows no geology, nothing. business man making money off the backs of skilled tradesman and academics. You tell me where to drill, I get people to drill, I make 40 million a year because gas cost alot.

Obviously Exxon thinks he's worth that much.

[Soul Crusher]

HAHAHA he makes 40 mil a year. Holy fuck how in the world could you justify that salary.What the fuck is wrong with people, fucking give back man help a guy out you greey glutonous bastard.
This is another example of rich privalege. You fucks are like, don'[t hurt the rich they only  raped our economy and used our money to bail themselves out. He deserves 40 million right?
There is no way he is worth that much, he is not operating the drills, probably knows no geology, nothing. business man making money off the backs of skilled tradesman and academics. You tell me where to drill, I get people to drill, I make 40 million a year because gas cost alot.

Funny how leftists like yourself never say the same thing about atheltes, movie people, etc are contribute far less and are responsible for thing at all. 

[tonymctones]

HAHAHA he makes 40 mil a year. Holy fuck how in the world could you justify that salary.What the fuck is wrong with people, fucking give back man help a guy out you greey glutonous bastard.
This is another example of rich privalege. You fucks are like, don'[t hurt the rich they only  raped our economy and used our money to bail themselves out. He deserves 40 million right?
There is no way he is worth that much, he is not operating the drills, probably knows no geology, nothing. business man making money off the backs of skilled tradesman and academics. You tell me where to drill, I get people to drill, I make 40 million a year because gas cost alot.

you just said that millionaires are not elite....

Millionaires aren't the elite either, Millionaires are made by the fucking lottery

you just cant make this stupidity up!!!

[240 is Back]

he's worth the salary - because he's capable of making his shareholders 100 times that.

If he wasn't that good, he woudln't be in that position.  

I have no problem with CEOs or Kobe Bryant or some idiot singer making millions of bucks.   Cause they're hard to replace.  There's only one lebron.  There's only one Steve Jobs.  There's only one Justin Bieber, as annoying as I find him.

it takes talent, years of work, and a million other facts to make this CEO.  You can place an ad in the newspaper in NYC and get 100,000 people that can stock grocery shelves. You can place and ad and find 1000 people with teaching degrees who can teach high school math.  You can place your ad and get 10 people that have the skills/experience of this CEO.

[pedro01]

he's worth the salary - because he's capable of making his shareholders 100 times that.

If he wasn't that good, he woudln't be in that position.  

Surely you aren't that naive.

You do realize how these CEO compensation packages get set, right?

You think it's performance related?

[tonymctones]

Surely you aren't that naive.

You do realize how these CEO compensation packages get set, right?

You think it's performance related?

yea many of them are, as in stock options

[24KT]

I guess he's pissed he didn't get a free pizza combo 

[pedro01]

yea many of them are, as in stock options

You are kidding, right?

The board of directors at these companies get together and award each other shares solely based on what they think they can get away with. They are effectively designing their own compensation packages.

Performance doesn't come into it.

[StreetSoldier4U]

You are kidding, right?

The board of directors at these companies get together and award each other shares solely based on what they think they can get away with. They are effectively designing their own compensation packages.

Performance doesn't come into it.

There is some basis in truth to what you say.

[tonymctones]

You are kidding, right?

The board of directors at these companies get together and award each other shares solely based on what they think they can get away with. They are effectively designing their own compensation packages.

Performance doesn't come into it.

actually as many of the clients I work with on a daily basis are CEOs of public and private company I have first hand knowledge of this.

Yes many get shares given to them as a part of their compensation package but even then is it not performance based?

If your compensation is based on the price of the stock and the price of the stock is based on the success of the company, how is it not performanced based?

In other situations they are given stock options that will not get executed unless the stock has appreciated, again performance based.

[pedro01]

actually as many of the clients I work with on a daily basis are CEOs of public and private company I have first hand knowledge of this.

Yes many get shares given to them as a part of their compensation package but even then is it not performance based?

If your compensation is based on the price of the stock and the price of the stock is based on the success of the company, how is it not performanced based?

In other situations they are given stock options that will not get executed unless the stock has appreciated, again performance based.

They allocate the shares to themselves. Performance doesn't come into it.

[tonymctones]

They allocate the shares to themselves. Performance doesn't come into it.

the share price is based on the success of the company, how is it not performance based?

If the company is doing shitty the price of the stock goes down, if it is doing good it goes up...I know you have some personal bias against them for whatever reason but dont let that bias blind you from the facts

[pedro01]

the share price is based on the success of the company, how is it not performance based?

If the company is doing shitty the price of the stock goes down, if it is doing good it goes up...I know you have some personal bias against them for whatever reason but dont let that bias blind you from the facts

The fact is these guys award themselves shares on a totally arbitrary basis. Salaries too.

The fact that share prices go up and down based on people's expectation of future performance is largely irrelevant. These guys all scratch each other's backs with shares. That is what is going on with their compensation packages. They pillage an amount shareholders will not rebel at. On top of this, they give themselves exit packages that reward themselves even when they screw up. Performance?

[Soul Crusher]

The fact is these guys award themselves shares on a totally arbitrary basis. Salaries too.

The fact that share prices go up and down based on people's expectation of future performance is largely irrelevant. These guys all scratch each other's backs with shares. That is what is going on with their compensation packages. They pillage an amount shareholders will not rebel at. On top of this, they give themselves exit packages that reward themselves even when they screw up. Performance?

Sadly true for the large companies from my recent memory at least.

Small - Mid sized business  - Hunger Games day in day out -

[tonymctones]

The fact is these guys award themselves shares on a totally arbitrary basis. Salaries too.

The fact that share prices go up and down based on people's expectation of future performance is largely irrelevant. These guys all scratch each other's backs with shares. That is what is going on with their compensation packages. They pillage an amount shareholders will not rebel at. On top of this, they give themselves exit packages that reward themselves even when they screw up. Performance?

LMFAO its not irrelevant at all...

peoples expectations of the companys future performance is directly related to the current management of the company. If their compensation is based off of the price of the stock they are given, IT IS PERFORMANCE BASED PLAIN AND FUCKING SIMPLE...

If you have an issue with parachutes thats another topic, fact is stock options and compensation in terms of stock are performance based.

You also leave out the fact that the majority of time they are gifted stock there is a vesting period where they cannot sell it.

[pedro01]

LMFAO its not irrelevant at all...

peoples expectations of the companys future performance is directly related to the current management of the company. If their compensation is based off of the price of the stock they are given, IT IS PERFORMANCE BASED PLAIN AND FUCKING SIMPLE...

If you have an issue with parachutes thats another topic, fact is stock options and compensation in terms of stock are performance based.

You also leave out the fact that the majority of time they are gifted stock there is a vesting period where they cannot sell it.

Surely you aren't that naive.

They give themselves stocks for the same reason a dog licks his own balls - because they can.

It's effectively free money.

When was the last time a CEO gave up part of his huge salary in lieu of options? Options are a way for them to grab money. If they could award themselves Gold nuggets they would.

Honestly - the fact that all this free stuff they get goes up and down in value is the last thing on their minds. It's just a way of grabbing money that has become acceptable of late.

Look at it like this - does a thief who stole a Gold necklace when Gold was at $300 per oz get awarded for his investment savvy having stolen at the right time? Nope - he stole what he could. As CEOs do with shares and exit plans that pay them 10's or 100's of millions if it all goes tits up. They are just flip sides of a "heads I win, tails you lose" coin.

[24KT]

Surely you aren't that naive.

Clearly he is.

They give themselves stocks for the same reason a dog licks his own balls - because they can.

It's effectively free money.

When was the last time a CEO gave up part of his huge salary in lieu of options? Options are a way for them to grab money. If they could award themselves Gold nuggets they would.

So you admit Gold has true value then. It's about time. 

Honestly - the fact that all this free stuff they get goes up and down in value is the last thing on their minds. It's just a way of grabbing money that has become acceptable of late.

Look at it like this - does a thief who stole a Gold necklace when Gold was at $300 per oz get awarded for his investment savvy having stolen at the right time? Nope - he stole what he could. As CEOs do with shares and exit plans that pay them 10's or 100's of millions if it all goes tits up. They are just flip sides of a "heads I win, tails you lose" coin.

QFT