TV News LIES

Sunday, Dec 04th

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...


USGS: Largest oil deposit ever found in U.S. discovered in Texas

Oil found in USThe U.S. Geological Survey recently discovered the largest continuous oil and gas deposit ever found in...

Portugal runs for four days straight on renewable energy alone

Portugal runs four days on renewable energyPortugal kept its lights on with renewable energy alone for four consecutive days last week in...

Nuclear reactor at Indian Point plant in N.Y. shut down again after leak found

Indian Point reactor leakOne of two reactor units at a nuclear power plant near New York City has been...

Big Banks Aided Firm At Center Of International Bribery Scandal

Big BanksNo business can operate without bankers — not even the bribery business.British financial giant HSBC and...
 
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!