• 3 minutes Nucelar Deal Is Dead? Iran Distances Itself Further From ND, Alarming Russia And France
  • 5 minutes Don Jr. Tweets name Ukraine Whistleblower, Eric Ciaramella. Worked for CIA during Obama Administration, Hold over to Trump National Security Counsel under Gen McCallister, more . . . .
  • 9 minutes Shale pioneer Chesepeak will file bankruptcy soon. FINALLY ! The consolidation begins
  • 12 minutes China's Blueprint For Global Power
  • 37 mins EU has already lost the Trump vs. EU Trade War
  • 6 hours Judge Orders Trump To Release Tax Returns
  • 9 hours Does .001 of Atmosphere Control Earth's Climate?!
  • 4 hours ''Err ... but Trump ...?'' #thedonkeystays
  • 8 hours China's Renewables Boom Hits the Wall
  • 8 hours Offshore SE Asia: Offshore OFS Could Get Major Boost in SE Asia
  • 1 hour Shale Gas News – November 9, 2019
  • 8 hours Saudi Aramco IPO Will Not Save Kingdom
  • 10 hours Atty General Barr likely subpeona so called whistleblower and "leaker" Eric Ciaramella
  • 6 hours The lies and follies of the "cry wolf" enviros: No more fire in the kitchen: Cities are banning natural gas in homes to save the planet
  • 5 hours CHK Trading @ 90 Cents

Aubrey McClendon and the Destruction of the Natural Gas Market

Aubrey McClendon is gone – or at least he’s on his way out from Chesapeake energy (CHK).  But the destruction of the natural gas market, where he was the ringleader in the shale gas land grab and cratering well price, is his real legacy, and not likely to be recovered from anytime soon.  While Aubrey will now go into a very wealthy retirement, he leaves behind a decimated market and a long road to making natural gas a true transition fuel to energy independence and a renewable future. 

The market failed us, failed all of us as a nation – because it couldn’t prevent McClendon and Chesapeake from poking holes randomly through Texas and Western Pennsylvania in search of shale gas and ultimately flooding the market with it, cratering the price and its profitability.  And it is margins and profitability that make markets work. 

And while McClendon made himself the best paid CEO in the nation, he assured us that our necessary and important transition to natural gas would be made much more difficult, if not impossible:  you just cannot support innovation without profits.  It is not just “cheap gas” that is the answer to spurring economic growth, grow manufacturing and sell natural gas as a transport fuel or even as an export fuel here in the US – it is margins and it is profits.

And Chesapeake destroyed that for everyone in the gas game (and destroyed themselves too), with forced development…




Oilprice - The No. 1 Source for Oil & Energy News