Green Innovations

Developing renewable and clean technology companies in New York

Friday, December 18, 2009

Exxon - XTO and Marcellus Shale: What does it mean for NYS?

Exxon Mobil Corp announced plans this week to buy XTO Energy Inc for about $30 billion in stock, in a move that thrusts the U.S. energy giant to the forefront of North America's fast-growing natural gas industry. With the buy, Exxon, the largest publicly traded energy company, will become the top U.S. natural gas producer as it bets on natural gas expanding its share in the world's largest energy market.

What does that mean for New York State -- which contains part of the Marcellus Shale formation, one of the largest reservoirs in the country?  Right now, much of that land is agricultural.  Read an op-ed piece in the Times Union: