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Fracking News

Shareholder Advocates Declare ‘Fracking’ Not Sustainable for Environment or Investment

May 20, 2011 By TXsharon

Upcoming Shareholder Resolutions Examine Failures of Chevron, ExxonMobil, and Ultra Petroleum to Disclose Environmental and Investment Risks of Fracking; Urge Transparency and Accountability to Ensure Financial Sustainability

On Wednesday, May 25th resolutions filed by the shareholder advocacy group As You Sow will
be voted on by investors at the annual meetings of three U.S. energy corporations: Chevron,
ExxonMobil, and Ultra Petroleum. The resolutions ask for a report on the environmental and financial risks of hydraulic fracturing (commonly referred to as “fracking”) in natural gas drilling. Fracking is a process of injecting a mixture of water, chemicals, and particles underground to create fractures through which gas can flow for collection.http://www.blogger.com/img/blank.gif

The shareholder votes will be taking place on May 25 at Chevron in San Ramon, California;
ExxonMobil in Dallas, Texas; and Ultra Petroleum in Calgary, Alberta. Resolution proponents filed shareholder rebuttals with the SEC and produced investor fact sheets which are available for ExxonMobil, Ultra Petroleum, and Chevron.

Read the entire press release HERE.

Learn more about the As You Sow shareholder resolutions HERE.

About Sharon Wilson

Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.

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