ICYMI: House Panel Gets Firsthand Insights on Massive Potential of Shale Gas

Bloomberg News
January 20, 2009

“Tillerson told the House subcommittee that the deal [with XTO] will expand natural gas production without harming the environment.”


“With recent advances in extended-reach horizontal drilling, combined with the time tested technology of hydraulic fracturing – a process in use for more than 60 years – we can now find and produce unconventional natural gas supplies miles below the surface in a safe, efficient, and environmentally responsible manner.

NOTE: To view this full segment, click HERE.


CNBC’s “Squawk Box”
January 20, 2009

“What Exxon gets as part of this deal is a huge new stake — 8 million acres in unconventional natural gas. And at the heart of how they’re going to develop that … is a technique called hydraulic fracturing and its possible effect on drinking water supplies.”

There is legislation pending to have the EPA study [the effects of hydraulic fracturing]. At the same time, Exxon has filed or is lobbying for contingency legislation so it wouldn’t impact the merger…”

NOTE: To view this full segment, click HERE.

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