Exxon Mobil, Chevron Face Shareholder Questions about Environmental Impact of Hydraulic Fracturing at Annual Meetings

Two of the worlds largest energy companies have made major investments in shale gas. Exxon Mobil made a $35 billion investment when it bought XTO in 2010. Exxon's goal is to double U.S. natural gas output in the next ten years. Chevron has concentrated its investment specifically in the Marcellus Shale with the $3 billion purchase of Atlas Energy and a large acreage deal with Chief Oil & Gas. Chevron expects to increase its output of gas seven-fold in the next few years.

But investors in each of these energy giants want “more disclosure” on the so-called environmental risks involved with horizontal hydraulic fracturing, as witnessed at their annual meetings yesterday:

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