Exxon fracking report responds to shareholders
NEW YORK (AP) — Exxon Mobil is explaining how it is working to manage the risks of hydraulic fracturing in a report issued in response to pressure from a corporate responsibility group, the New York City Comptroller, and other shareholders.
The report acknowledges that drilling wells and producing oil and gas from shale formations and other so-called unconventional sources do carry risks. The report also goes into detail about the benefits of unconventional oil and gas production and how it compares favorably to many other types of energy production and generation.
The activists, including the group As You Sow and New York City Comptroller Scott Stringer, agreed earlier this year to withdraw a shareholder resolution requesting greater disclosure of risks after Exxon agreed to reveal more about how it manages those risks.