Join The Discussion

 

Ebby Halliday acquires Fort Worth’s Williams Trew

Williams Trew Real Estate of Fort Worth has been acquired by Dallas-based residential real estate brokerage Ebby Halliday Real Estate Inc.

read more >

T&P Warehouse: Historic building remains in limbo as area redevelops

For years, the historic T&P Warehouse on West Lancaster Avenue downtown, built in 1931 to house freight for the Texas Pacific Railway, has sat vacant and deteriorating.

read more >

Meridian Bank Texas parent acquired by UMB Financial for $182.5M

Kansas City, Mo.-based UMB Financial Corp., the parent company of UMB Bank, said Dec. 15 it has signed a definitive agreement to acquire Marquette Financial Companies in an all-stock transaction.

read more >

Cousins Properties to sell 777 Main tower in downtown Fort Worth

Cousins Properties Inc. has confirmed plans to sell the 777 Main office tower in downtown Fort Worth, according to a news release from the Atlanta-based real estate investment firm.

read more >

Glen Garden sale closes, distillery on tap

Firestone & Robertson Distilling Co. closed late Wednesday on its purchase of the historic Glen Garden Country Club in southeast Fort Worth, with plans to convert it into a whiskey distillery and bucolic visitor attraction.

read more >

Exxon CEO: Oil will be top energy source for years

DAVID KOENIG, AP Business Writer


DALLAS (AP) — The CEO of Exxon Mobil says U.S. sanctions against Russian officials are having no effect on his company's activities there.

Rex Tillerson also says that he is skeptical of sanctions and has discussed his view with U.S. government officials.

Tillerson made the comments Wednesday after Exxon Mobil Corp.'s annual meeting.

U.S. sanctions over Russia's annexation of Crimea have targeted the president of Russia's largest oil company, Rosneft, but not the company itself. Exxon has an exploration and production agreement with Rosneft in the Russian arctic and Siberia.

"There has been no impact on any of our business activities in Russia to this point, nor has there been any discernible impact on the relationship" with Rosneft, Tillerson told reporters. "The organizations continue to work business as usual."

Tillerson said he generally opposes sanctions as imprecise and ineffective. He said he has discussed his view with U.S. officials. He declined to identify them but said, "Our views are being heard at the highest levels."

Exxon Mobil earned $32.6 billion last year, a decline of 26 percent from 2012. Revenue fell 9 percent to $438.3 billion. Exxon shares gained 17 percent last year but have been flat in 2014. But, as it has for several years, environmental debates crowded out financial ones at the annual meeting of the nation's largest oil company.

About 15 people protested across the street from the meeting hall, charging that Exxon was not doing enough to reduce climate change and develop alternative sources of energy to burning oil and natural gas.

Inside the hall, a dissident shareholder and Dominican sister from New Jersey, Pat Daley, said that Exxon was making a long-term business mistake by not moving more aggressively into alternative fuels. She said the company was betting "that the nations of the world will continue to do nothing about climate change for the next 30 years."

Tillerson said that he was confident that technology will provide a way to reduce emissions, and he said proponents of ideas such as hard emissions-reduction goals were simplistic.

Tillerson said that he didn't trust any of the models that predict certain changes in global temperatures and climate. He also said there is no single answer to climate change and that people in developing countries still desire the same living standards as those in the developed countries.

Shareholders rejected a resolution urging Exxon to set numerical goals to reduce greenhouse-gas emissions both from its own operations and the use of its products.

Tillerson said that the company has reduced greenhouse gas emissions by nearly 11 million tons over the past five years, which he said was equal to taking nearly 2 million cars off the road.

Exxon Mobil predicts that alternative fuels will grow but that oil will remain the world's leading source of energy for another quarter century, accounting for one-third of all energy use in 2040.

Exxon is based in Irving.
 

< back

Email   email
hide
TCU/Baylor
Did the College Football Playoff Committee get it right?