The Big Fracking Bubble: The Scam Behind the Gas Boom

22 comments

Posted on 5th March 2012 by DavosSherman in Economy

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The inter-generational tyranny continues.

When cancer rates of 1 in 2 men, and 1 in 3 women–just don’t cut it—fear not, for there is hydraulic fracking.

Since Medicare is bust with $81,000,000,000,000 and the Prescription Drug plans is shot with another $20 trillion—don’t worry, for when the cancer rates hit 1:1 and your hospital can’t afford to keep its oncology wing open—you can get dosed by the pizza-box hirees before your next flight or visit to Wal-Mart.

For Obama supporters, who would like to contribute to his campaign—but can’t because you fall into that 22.5% (and growing) unemployment camp—your worries are over, this is good news for you.  Deepak Chopra hired the former TSA chief (Michael Chertoff), to get his naked, radiation spewing, body scanners into our airports.  Deepak, for anyone living under a rock, stands for Donation Pack.  D-Pack is a huge Obama supporter and even jets off to Mumbai on Air-force One with Obama and his two fat assed bitches (Mrs. Big Sis Hitler and Michelle).

Here is a super article from Rolling Stone Magazine.

http://youtu.be/Ia1UjNBK_3Y

Oh, and one more thing.  Well three.

  1. Fracking uses 400 tanker trucks and 1-8 million gallons of—-drum roll please—fresh water.  As in: Jim Quinn’s Peak Water.  Then the water is dumped into “evaporation pits” so the 596 carcinogenic chemicals they mixed the water with will make it to your kids and their kids genes.
  2.  Fracking, according to our government, causes earthquakes.
  3. If you haven’t seen GasLand it’s a super watch.  Take plenty of Prozac first.

And now, without further ado, let me please introduce myself, I’m a man of great wealth and taste,

Aubrey McClendon, America’s second-largest producer of natural gas, has never been afraid of a fight. He has become a billionaire by directing his company, Chesapeake Energy, to blast apart gas-soaked rocks a mile underground and pump the fuel to the surface. “We’re the biggest frackers in the world,” he declares proudly over a $400 bottle of French Bordeaux at a restaurant he co-owns in his hometown of Oklahoma City. “We frack all the time. What’s the big deal?”

McClendon dominates America’s supply of natural gas the same way the Tea Party-financing Koch brothers control the nation’s pipelines and refineries. Like them, McClendon is an influential right-wing power broker – he helped fund the Swift Boat attacks against John Kerry in 2004, donated $250,000 to the presidential campaign of Rick Perry,

, perhaps what’s puzzling you is the nature of my game,  the Rolling Stone Article.

The New York Times documented how gas drillers were dumping millions of gallons of irradiated wastewater loaded with toxic chemicals into Pennsylvania’s rivers and streams, largely without regulatory oversight.

At the same time, scientists began to conclude that America’s reserves of natural gas have been overhyped. In January, the Energy Department cut its estimate of the amount of gas available in the Marcellus Shale by nearly 70 percent, and a group affiliated with the Colorado School of Mines warns that there may be only 23 years’ worth of economically recoverable gas left nationwide. Even worse, new studies suggest that because of fugitive emissions of methane from wellheads and pipelines, natural gas may actually be no better than coal…



22 Comments
  1. Leo Beer says:

    Fracking explained :

    http://www.youtube.com/watch?v=b2p_Q8m0H-E

    Like or Dislike: Thumb up 4 Thumb down 1

    5th March 2012 at 10:45 pm

  2. matt says:

    “Gasland”-the movie.

    Like or Dislike: Thumb up 0 Thumb down 1

    5th March 2012 at 10:57 pm

  3. DavosSherman says:

    Link to Gasland http://consciousvideodirectory.webs.com/apps/videos/videos/show/9527599-gasland

    Like or Dislike: Thumb up 2 Thumb down 1

    5th March 2012 at 11:12 pm

  4. DavosSherman says:

    Beer, that clip is hysterical!

    Like or Dislike: Thumb up 3 Thumb down 1

    5th March 2012 at 11:13 pm

  5. Stucky says:

    After the OWS protests died down Jim Quinn found other ways to piss off the Chattham Police Dept.

    6677212167_99d2770a77.jpg

    Like or Dislike: Thumb up 4 Thumb down 2

    5th March 2012 at 3:01 am

  6. stan says:

    So, Deepak Chopra and Barack Hussein Obama are running things? A muslim and a Hindu mystic.

    And you wonder why we are so screwed?

    Like or Dislike: Thumb up 2 Thumb down 0

    5th March 2012 at 5:17 am

  7. sensetti says:

    Borrowing against overbooked reserves, how the shale gas scam works, take a look.

    •Reserves are the key to the shale gas scam, as the Times explains—

    A big attraction for investors is the increasing size of the gas reserves that some companies are reporting. Reserves — in effect, the amount of gas that a company says it can feasibly access from its wells — are important because they are a central measure of an oil and gas company’s value.

    Forecasting these reserves is a tricky science. Early predictions are sometimes lowered because of drops in gas prices, as happened in 2008. Intentionally overbooking reserves, however, is illegal because it misleads investors. Industry e-mails, mostly from 2009 and later, include language from oil and gas executives questioning whether other energy companies are doing just that.

    The e-mails do not explicitly accuse any companies of breaking the law. But the number of e-mails, the seniority of the people writing them, the variety of positions they hold and the language they use — including comparisons to Ponzi schemes and attempts to “con” Wall Street — suggest that questions about the shale gas industry exist in many corners.

    “Do you think that there may be something suspicious going with the public companies in regard to booking shale reserves?” a senior official from Ivy Energy, an investment firm specializing in the energy sector, wrote in a 2009 e-mail.

    http://www.declineoftheempire.com/2011/07/how-does-the-shale-gas-scam-work.html

    Like or Dislike: Thumb up 4 Thumb down 1

    5th March 2012 at 5:57 am

  8. sensetti says:

    6a00d83452403c69e2014e899cd712970d-800wi

    10-03_Arrival_Kulkarni_Fig-02.gif

    Like or Dislike: Thumb up 5 Thumb down 1

    5th March 2012 at 6:06 am

  9. TG says:

    So this douche shermen guy thinks that the tea party is funded by the Koch brothers?

    If that’s not the case, what douche thinks, then this crap article is as clear as mud.

    What a piece of shitty writing.

    Hot debate. What do you think? Thumb up 5 Thumb down 4

    5th March 2012 at 9:43 am

  10. Diogenes says:

    “Meet the Frackers”

    From ABC Australia:

    http://www.youtube.com/watch?v=sJ222d6KXyE

    Like or Dislike: Thumb up 1 Thumb down 1

    5th March 2012 at 9:48 am

  11. Diogenes says:

    “Seven Ways Koch Industries is Monetizing the Fracking Business” by Lee Fang

    http://www.republicreport.org/2012/koch-fracking/

    Like or Dislike: Thumb up 1 Thumb down 1

    5th March 2012 at 9:52 am

  12. ron says:

    I would hope they get permits and someone checks what gets pumped into the ground.
    I wonder what happened to hydrogen power,i hear its produced by coal power plants as a by product.Where i live they have been putting up wind turbines.Then they raised our electric rates.

    Like or Dislike: Thumb up 1 Thumb down 0

    5th March 2012 at 10:00 am

  13. DavosSherman says:

    Peak decline: Staggering stuff Sensetti!

    Like or Dislike: Thumb up 2 Thumb down 2

    5th March 2012 at 10:08 am

  14. Kill Bill says:

    Koch uses front groups to co-opt activists. And he isnt the only one. Its what many DC think tanks do.

    Like or Dislike: Thumb up 3 Thumb down 0

    5th March 2012 at 10:20 am

  15. What a load of shit says:

    What a load of shit… thats all i need to say, what a load of shit

    Hot debate. What do you think? Thumb up 4 Thumb down 5

    5th March 2012 at 10:22 am

  16. Kill Bill says:

    Wake up and smell the mercaptans Wake up and smell the mercaptans Thats all I need to say, wake up and smell the mercaptans.

    Like or Dislike: Thumb up 1 Thumb down 0

    5th March 2012 at 10:28 am

  17. Bruce says:

    “Do you think that there may be something suspicious going on with the public companies in regard to booking shale reserves?” a senior official from Ivy Energy, an investment firm specializing in the energy sector, wrote in a 2009 e-mail

    A senior official from an investment frim that specializes in energy asks a question like this?

    Of course something suspicious is going on. Always has been. This guy is a an idiot. The old timers called guys like this Wall Streeter “mooches”. Oil and gas companies have specialized in sticking it to bankers, securities dealer, brokers and greedy rich bastards since the industry was born. Do oil companies find oil and gas? Why hell yes. But they don’t share the good stuff with Wall Street fuckers and dumb ass investors. Virtually every corporation on the stock market that is mainly involved in shale plays of any kind is a scam. They are sticking it to the Wall Street investment bankers who stick it to investors or are fool enough to hold the interest. Virtually every private corporation that is mainly involved in shale plays of any kind is a scam and is sticking it to the investors directly. Shale deals are scams and have been scams for at least 50 years. Fracturing is not new. The new twist is the modern horizontal drilling technology and 3D seismic. These are incredible advancements when used to explore and drill something that’s not shale. Oil and gas companies earn money on oil and gas production and also earn money by selling garbage to bankers and the wealthy 1%ers. How do you think they get the money to drill the good prospects for themselves? When Spindletop was discovered near Beaumont Texas in 1901 it was about the greatest oil find in the world. Wells were drilled on top of each other like crazy. It became clear to the oil men that they were all depleting each other wells. They instantly realized that they could make a lot more money selling interest in their wells than they ever could on the oil. Soon after that Spindletop became known internationally as Swindeltop. But the oil men had already lined their pockets moved on to find exciting new deals for fools with money. Companies such as Texaco and Gulf were created with the vast fortunes looted from the deals.The ivy league investment whiz kids and financial genius investment bankers, people specialize in fucking everyone always lap it up. It’s interesting that they still haven’t figured out that the good old boys in the oil patch have been fucking them as a matter of standard business practice ever since Colonel drake dug a hole in western PA. And now the morons abound in the banking and investment world more than ever. Tons of really extra stupid Chinese money is floating around the oil patch these days too.

    Well-loved. Like or Dislike: Thumb up 7 Thumb down 0

    5th March 2012 at 10:37 am

  18. Diogenes says:

    For all you fracking enthusiasses….

    You’ll find the Big Red hustlin’ on…

    http://www.youtube.com/watch?v=YIkLVq4mD88&feature=player_embedded#!

    Like or Dislike: Thumb up 0 Thumb down 0

    5th March 2012 at 10:40 am

  19. sensetti says:

    @ DavosSherman

    Thank you for bringing this issue forward, shale gas is a very large domino that is about to fall. A lot of hard working men with families are going to get laid off, once again because of greed. I hope we see prosecutions, but I am not going to hold my breath.

    Like or Dislike: Thumb up 3 Thumb down 0

    5th March 2012 at 11:21 am

  20. Anonymous says:

    “We’re the biggest frackers in the world,” he declares proudly over a $400 bottle of French Bordeaux at a restaurant he co-owns in his hometown of Oklahoma City.

    “McClendon dominates America’s supply of natural gas the same way the Tea Party-financing Koch brothers control the nation’s pipelines and refineries. Like them, McClendon is an influential right-wing power broker – he helped fund the Swift Boat attacks against John Kerry in 2004, donated $250,000 to the presidential campaign of Rick Perry,”

    And pray tell me how these comments fit in to an article about fracking? Just turns this sceed into a libronazi talking point.

    Like or Dislike: Thumb up 2 Thumb down 1

    5th March 2012 at 11:59 am

  21. DaveL says:

    Ooops again. The above was by me, not anonymous.

    Like or Dislike: Thumb up 0 Thumb down 0

    5th March 2012 at 12:00 pm

  22. Hope@ZeroKelvin says:

    I am all for fracking. The more cancer, the better my bottom line will be. It may be all that prevents my 401K from collapsing.

    Go Fracking!!!

    Like or Dislike: Thumb up 3 Thumb down 2

    5th March 2012 at 12:29 pm

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