Exxon CEO Who Has Publicly Supported Fracking In The Past Now Fighting Against It Because It Affects His Property Value
Exxon CEO Rex Tillerson has been an obvious supporter of fracking over the years because of how much it is a part of the oil industry. He has publicly criticized anti-fracking activists many times and has been outspoken in his support of the controversial drilling practice. Now, in an apparent ironic flip-flop, Tillerson is trying to stop the construction of a 160-foot water tower because of fracking concerns, and his reason is that the tower is right next to his $5 million home.
According to reports, the lawsuit that Tillerson has filed, along with neighbors, to try and stop the water tower construction says that it will, “will sell water to oil and gas explorers for fracking shale formations leading to traffic with heavy trucks on FM 407, creating a noise nuisance and traffic hazards.”
Still, despite the clear language in the lawsuit, Tillerson’s lawyer maintains that the primary concern isn’t over fracking but more because it could devalue the CEO’s property.
Tillerson, who lives in Texas, has been CEO of Exxon since 2006 and has been publicly supportive of fracking that helps his business.
“This type of dysfunctional regulation is holding back the American economic recovery, growth, and global competitiveness,” said Tillerson of proposed fracking regulations in 2012.
Exxon says they are not involved in Tillerson’s lawsuit in any way.