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Energy Policy Forum essay exposes shale gas as all spin and no widget

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Energy Policy Forum lays out the entire game of spin the shale an elitest game that is not about producing widgets because the widgets aren’t there. This is a must read essay

Is Chesapeake Energy Merely an Example of Virtual Reality?

This game is elitist like LaCrosse and only played by certain players in certain elite positions. It is not baseball.

Energy Policy Forum has said from day one that shale gas is not about producing gas it’s a ponzi scheme.

It is now as though we believe our own internet fiction; that virtual economies can replace the real thing and perceptions can replace real goods like the actual energy we need.

About Sharon Wilson

Sharon Wilson is considered a leading citizen expert on the impacts of shale oil and gas extraction. She is the go-to person whether it’s top EPA officials from D.C., national and international news networks, or residents facing the shock of eminent domain and the devastating environmental effects of natural gas development in their backyards.

Comments

  2. Tim Ruggiero says

    This sleight of hand goes back many decades. One of the most popular
    manifestations of this that has become a mainstay in popuar lexicon
    derives from The Wizard of Oz: At the end of the movie, we finally got
    to see the Wizard, in what we have since referred to as ‘behind the
    curtain’.

    The only difference between that Wizard and McEnron, I mean
    McClendon, is that the Wizard if Oz fooled an innocent child. Even
    then, Dorothy finally figured it out. McClendon has been fooling
    wealthy and presumptive well educated and intelligent people, investors, shareholders and even his own employees for over 20 years who should know better. (I get to include employees in this statement because I have had several ’employees’ tell me that when I bought property without mineral rights, I should have ‘known better’ because ‘everyone knows you don’t buy tracts of land without the mineral rights’)

    Now there’s blood in the water, and the sharks are getting bigger…SEC, IRS, Justice Dept, shareholders suing and even a US Senator (so far) But to hear Aubrey speak of any of this is reminiscent of the same things Ken Lay was saying to the same people literally moments before ENRON fully imploded, causing the instant unemployment of thousands of employees’ and their retirement investments vaporized in that same moment. But the same corporate chicanery continued, and we all watched in utter disbelief when other Corporate Kings were caught in financial fraud schemes-that quickly turned to anger when We The Taxpayers got the bill.

    But, for some reason, Aubrey is all but mum on any of this, dismissing allegations and hard questions with a wave of his hand like shooing away a housefly: “Your mother told you not to believe everything you read or hear for good reason, and that’s certainly been the case for the past two weeks.”

    One does not need to be an Ed Ireland to figure out that when stock prices start to plummet, causing a hemmorage of hundreds of millions, Aubrey McClendon should start thinking about what life will be like living in an 6×8 federal cage.

    Like Ken Lay, Dennis Kozlowski, Richard Scrushy, McClendon is bailing water on his sinking ship as fast as he can, all the while, a ‘goat farmer’ has been warning the masses for months, now of the pending doom, but few have listened, much more take action.

    In all fairness, Aubrey did have some good news this week: Oklahoma City Thunder (soon to be re-named OKC Earthquakes) beat the Dallas Mavericks 95-79. So there’s that to be happy about, right?

  3. Don Young says

    Brilliant essay, as always by Rogers. Her research and logical thinking are impeccable. Even an average Joe can get it.

  4. Anonymous says

    @Tim: Toto actually pulled back the curtain on the Wizard. We all need a brave, smart, little dog like that. :=)