TV News LIES

Wednesday, Jun 28th

Last update05:20:13 AM GMT

You are here News Energy Insiders Sound an Alarm Amid a Natural Gas Rush

Insiders Sound an Alarm Amid a Natural Gas Rush

E-mail Print PDF

Chesapeake EnergyNatural gas companies have been placing enormous bets on the wells they are drilling, saying they will deliver big profits and provide a vast new source of energy for the United States.

But the gas may not be as easy and cheap to extract from shale formations deep underground as the companies are saying, according to hundreds of industry e-mails and internal documents and an analysis of data from thousands of wells.

In the e-mails, energy executives, industry lawyers, state geologists and market analysts voice skepticism about lofty forecasts and question whether companies are intentionally, and even illegally, overstating the productivity of their wells and the size of their reserves.

Many of these e-mails also suggest a view that is in stark contrast to more bullish public comments made by the industry, in much the same way that insiders have raised doubts about previous financial bubbles.

“Money is pouring in” from investors even though shale gas is “inherently unprofitable,” an analyst from PNC Wealth Management, an investment company,  wrote to a contractor in a February e-mail. “Reminds you of dot-coms.”

More...


Most Recent Related Stories...


U.S. labor report, Paris decision backlash send oil prices lower

Oil prices fall after paris accord withdrawalPerceived weakness on the margins of the U.S. labor sector and the reaction to the U.S....

Tunnel collapses at Hanford Nuclear Reservation; no radiation released

Tunnel Collapse at Hanford Nuclear reservationHundreds of workers were told to take cover at the Hanford Nuclear Reservation after a tunnel...

Three Mile Island nuclear plant will close in 2 years, owner says

three mile island nuclear plant to close in 2019The owner of Three Mile Island, site of the United States' worst commercial nuclear power accident,...

Exxon Won't Get Drilling Waiver for Russia, Mnuchin Says

Exxon refused waiver for sanctionsExxon Mobil Corp. won’t be allowed to bypass U.S. sanctions against Russia to resume drilling for...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!