Exxon CEO on Fracking: Not in my Backyard!

What's Hot


2 Types of Black Marks Might Vanish From Your Credit File SoonBorrow

6 Ways the Obamacare Overhaul Might Impact Your WalletInsurance

7 Dumb and Costly Moves Homebuyers MakeBorrow

This Free Software Brings Old Laptops Back to LifeMore

Obamacare Replacement Plan Gets ‘F’ Rating from Consumer ReportsFamily

Beware These 12 Common Money MistakesCredit & Debt

21 Restaurants Offering Free Food Right NowSaving Money

17 Ways to Have More Fun for Less MoneySave

House Hunters: Beware of These 6 Mortgage MistakesBorrow

30 Household Uses for Baby OilSave

25 Ways to Spend Less on FoodMore

Nearly Half of Heart-Related Deaths Linked to These 10 Foods and IngredientsFamily

5 Surprising Benefits of Exercising Outdoors in WinterFamily

10 Ways to Save When You’re Making Minimum WageSave

Boost Your Credit Score Fast With These 7 MovesCredit & Debt

7 Painless Ways to Pay Off Your Mortgage Years EarlierBorrow

The Most Sinful City in the U.S. Is … (Hint: It’s Not Vegas)Family

The True Cost of Bad CreditCredit & Debt

10 Companies With the Best 401(k) PlansGrow

This Scam Now Tops ID Theft as the No. 2 Consumer ComplaintFamily

6 Stores With Awesome Reward ProgramsFamily

6 Ways to Save More at Lowe’s and The Home DepotSave

6 Healthful Treats for Your DogFamily

New Study Ranks the Best States in the U.S.Family

Thousands of Millionaires Moving to 1 Country — and Leaving AnotherGrow

Strapped for College Costs? How to Get the Most From FAFSABorrow

6 Overlooked Ways to Save at Chick-fil-AFamily

Ask Stacy: What’s the Fastest Way to Pay Off My Mortgage?Borrow

Where to Sell Your Stuff for Top DollarAround The House

8 Ways to Get a Good Price on a Shiny New AutoCars

Ask Stacy: How Do I Start Over?Credit & Debt

Secret Cell Plans: Savings Verizon, AT&T, T-Mobile and Sprint Don’t Want You to Know AboutFamily

30 Awesome Things to Do in RetirementCollege

14 Super Smart Ways to Save on TravelSave

The Rich Prefer Modest Cars — Should You Join Them?Cars

You’ll Soon Pay More to Shop at CostcoSave

10 Ways to Save When Your Teen Starts DrivingFamily

Exxon CEO Rex Tillerson has joined a lawsuit to block the construction of a water tower for a local fracking project. The tower is near his home.

In what could be hailed the ultimate NIMBY (not in my backyard) move, Rex Tillerson, chairman and chief executive of Exxon Mobil Corp., has joined his neighbors in a lawsuit to stop construction of a water tower near his home in Texas that would be used in a local fracking project.

Tillerson “is a big fan of hydraulic fracturing for oil and natural gas, unless it’s potentially undermining the property value of his Texas ranch,” The Huffington Post said.

HuffPo said Tillerson and his affluent neighbors, including former House Majority Leader Dick Armey, R-Texas, contend that not only will the water tower diminish neighbors’ property values, it will also create a “noise nuisance and traffic hazards,” as water trucks would need to haul and pump water for fracking operations. The 160-foot water tower, which is already partially built, is located near Tillerson’s Bar RR Ranch and Armey’s property. The tower is being built by Cross Timbers Water Supply.

Hydraulic fracturing, or fracking, is a controversial technique used by gas and oil companies, including Exxon, to extract difficult-to-reach underground oil and gas reserves by breaking up shale rock with high-pressure blasts of water, sand and chemicals.

The seeming hypocrisy of Tillerson’s move has provided fodder for a number of online opinion pieces. Rick Ungar, senior political contributor at Forbes, recently penned an article on this very topic. “Meet Rex Tillerson, the CEO of oil and gas superstar Exxon Mobil Corp. — the largest natural gas producer in these United States of America — and a newly emerging giant in the world of exquisite hypocrisy,” Ungar wrote.

What are your thoughts on Tillerson joining the lawsuit? Share your thoughts below or on our Facebook page.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: Ask Stacy: What’s the Best Way to Borrow?

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 2,067 more deals!