La Croix Energy Capital | Petroleum Derivative Trading

“Think like a fundamentalist; trade like a chartist.”
Dennis Gartman. Rule #8 - Gartman’s Simple Rules of Trading

Thursday, January 21, 2010

Exploration in the News

Exxon, XTO Chiefs Defend Fracking On Capitol Hill
Jan.20 WASHINGTON (WSJ) -- The heads of Exxon Mobil Corp. and XTO Energy Inc. will tell Congress Wednesday that a controversial gas drilling technique known as "fracking" is safe, in an effort to dissuade lawmakers from interfering with Exxon's planned acquisition of XTO.

Exxon Chief Executive Rex Tillerson will say that "we can now find and produce unconventional natural gas supplies miles below the surface in a safe, efficient and environmentally responsible manner," according to prepared testimony.
Read more: http://online.wsj.com/article/SB10001424052748704320104575015030370532948.html