TV News LIES

Thursday, Aug 17th

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...


Why are these billions in pipeline projects stalled?

Billions in pipeline projects stalledBillions of dollars’ worth of shovel-ready infrastructure projects have been held up by a bureaucratic morass...

Feds Suspect Russians Behind Cyber-Attacks on Power Plants

Wolf Creek Nuclear PlantRussia is suspected to be behind recent hacker intrusions at American power plants, including at least...

Treasury fines ExxonMobil $2 million for violating Russia sanctions while Tillerson was CEO

Treasury fines Exxon Mobil for violating Russia sanctionsThe Treasury Department said Thursday it is fining Exxon Mobil Corp. $2 million for violating sanctions...

Panda Power: China just built a solar farm shaped like a giant panda

Panda Power in ChinaLast week, Panda Green Energy Group Limited flipped the switch on the world’s most adorable solar...
 
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!