Friday, April 16, 2010
The ugly side of Exxon
Which presupposes that Exxon has a good side, though you would be hard put to find it if you were not one of the top executives. But getting back to the ugly side, even Texas is beginning to look into the oil company's bad habit of walking away from its mess when production ceases. As reported in Bloomberg:
Exxon, the biggest U.S. oil producer, has neglected this stretch of Texas since its oil fields began drying up in the 1970s, said Jerry Patterson, the state’s General Land Office Commissioner. Now Patterson and other state officials are urging Texas lawmakers to follow the examples of California and Pennsylvania in cracking down on oilfield practices that have left leaking pipelines, wells and storage tanks.I mention Exxon by name but this problem is endemic anywhere the law allows.
Oozing chemical pits and Vavrusa’s scarred skin are emblematic of a legacy Exxon has sought to keep buried in court, even as it gears up for a return to active exploration within miles of the ranch through its pending $29.3 billion acquisition of Fort Worth, Texas-based XTO Energy Inc.
Subscribe to Comments [Atom]
Post a Comment