Fracking Video Review

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4.04.2011

American Natural Gas Owned By Chinese Government?


First, for the record in case it is not obvious, I am opposed to FRACKING, believe the use of it to increase extraction at a (un)Natural Gas Well destroys pristine lands, will destroy our potable water supplies, and over time cost lives.  I am also pragmatic, and know too many people have already sold their souls to the Landman for the promise of future wealth.  We have politicians at every level of government trying to sell us on Natural Gas as the answer to getting us off foreign oil...OK...lets say this might be true.  That we could drill our way out of our dependence on foreign oil.

That argument begins to fail if you start looking at how much in bed with the Chinese Government America's second largest Natural Gas player (Chesapeake Energy) is...sure they will deny this, but the multi BILLIONS of dollars in deals with Chinese Government owned CNOOC suggests otherwise.  Why is over government willing to let Chesapeake bastardize our lands, threaten our environment, our drinking water supplies and our health to extract (un)Natural Gas that will be SHIPPED TO CHINA?

Furthermore, does one need to ask the question, is Chesapeake Energy a traitor to the American people, and should Americans find out where the gas is going to go before they give up their way of life for a few pieces of Judas Silver?

1 comment:

  1. Great blog, this fracktoid. I also made some attempt to track down foreign investors although China will always top everyone I would guess. I did find this: Netherlands, England, France, India, Japan, China have bought up rights to acres of PA. and BP and BG Group of the UK; Statoil ASA the Norwegian energy company; and Eni, the Italian oil company, have all bought into the US gas industry in the past year to gain access to the US industry...

    China’s third-largest oil and gas producer by capacity, Cnooc, bought into several shale oil and gas leases in the U.S. owned by Chesapeake Energy Corp. for $570 million in cash (Chesapeake owns 1.55 million net acres in West Virginia, Pennsylvania and New York

    Mitsui & Co. the Japanese trading and investment group buys minority stake in its Marcellus Shale natural gas project in Pennsylvania, it gives Mitsui control of 32.5 per cent of Anadarko’s shale-gas assets in the state, where most of the 250,000 sq km Marcellus deposit is located. Mitsui expects the Marcellus development to last 60 years and produce 360m to 460m cc ft of gas a day at peak. Most of the $3bn-$4bn in extra development would be spent in the first 10 years to drill “a few thousand wells”.

    I tried deciphering the Cheniere Energy story and it is here in a FB NOTE of mine with sources for it, and the above: Let Us All Do The Right Thing Man...

    My point is that I also doubt how much America itself will benefit from this whole boombustfiasco.

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