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Important ruling on "fracking": HazMat Management http://apocadocs.com/s.pl?1334074985
Just eight weeks before ExxonMobil's annual shareholder meeting, the Securities and Exchange Commission (SEC) has sided with the company's investors in their battle to address concerns about the energy giant's hydraulic fracturing ("fracking") operations....
In response to the shareholder proposal, ExxonMobil argued to the SEC that it had substantially implemented the requests shareholders laid out in their resolution.
However, deeper research revealed a large gap between information shareholders requested and what ExxonMobil disclosed.
"ExxonMobil has provided fragmentary and incomplete information on some of the community concerns, does not disclose government enforcement actions as requested by the proposal, and has disclosed far too little analysis useful to investors on the short- and long- term risks posed by these developments," says As You Sow's attorney Sanford J. Lewis....
ExxonMobil asserted to the SEC that it had no hydraulic fracturing-related environmental violations. It made this claim by limiting reportable violations to activities detectable deep underground, ignoring impacts occurring near the surface.
In fact, in Pennsylvania alone, 156 notices of violations related to natural gas extraction operations where fracking is underway were issued to ExxonMobil or its recently acquired subsidiary, XTO, between 2010 and 2011.
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[Read more stories about:
fracking, contamination, corporate malfeasance, methane release]
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