Tillerson to testify

The practice has gained more attention in recent years with new discoveries of natural gas in shale formations in the Northeast. XTO has large natural gas reserves. But the merger terms apparently allow Exxon to back out if Congress regulates “fracking.”

Lawmakers are also likely to press Tillerson on his position on climate change. The CEO has said he favors a tax on carbon rather than the “cap-and-trade” legislation the House passed last June.

The hearing is on Wednesday at 9:30 a.m. in 2123 Rayburn.