Panelist reviewing fracturing study has his own industry ties

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“I have a hard time imagining that anyone would question the impeccable credentials of Norman Augustine. He’s the perfect man,” Leslie said.

Deferred payments

Augustine still receives payments from ConocoPhillips that he deferred after retiring as a board member on May 14, 2008, according to the company’s 2009 proxy. At the time, he elected to defer more than $3 million to be paid over a 10-year period following his retirement, the proxy said.

As a director in 2007, he received stock and cash awards amounting to $545,645, according to the company’s 2008 proxy.

“It’s an unfortunate choice to pick a longtime oil and gas industry insider to review the study and act as an independent watchdog,” Connor added. “The university’s choice of Mr. Augustine throws the independence of this review into question before it has even begun.”
http://fuelfix.com/blog/2012/08/17/panelist-reviewing-fracturing-study-has-his-own-industry-ties/

[sonias]

1. Fox meet hen house

Fox, you know what to do.

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2. It just keeps getting better

Fracking watchdog is linked to oil industry

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Last month, the Public Accountability Initiative found similar industry ties to the author of the fracking study, Charles “Chip” Groat.

Groat led the study by the UT Energy Institute, of which he's an associate director.

He also is a director of Houston-based Plains Exploration and Production Co., where he held more than 40,000 shares of stock in May, which were worth more than $1.58 million, according to the company's proxy.

As a result, the university decided to appoint a group of experts to review the study, saying the criticism warranted “an independent look” at the study.

Leslie said it doesn't anger him that the Public Accountability Initiative has criticized Augustine's appointment.


Read more: http://www.mysanantonio.com/news/local_news/article/Fracking-watchdog-is-linked-to-oil-industry-3794547.php#ixzz23rQjN4j7