Markey plans hearing on Exxon's XTO purchase


This transaction shows that natural gas -- with its comparatively lower carbon content -- is a bridge fuel to America’s low-carbon future, since it will play an increasing role in the coming years.

However, this proposed merger also raises a number of issues with respect to the future direction of the U.S. domestic oil and gas industry, competition within the industry, and the potential environmental impact of increased unconventional natural gas development. I intend to convene hearings in the Subcommittee early next year so that our Members can take a closer look at this proposed transaction.