• Maren Cooke

    How can you have such a lengthy piece on fracking with no mention of climate change (which could easily account for the continued high production around the world despite low prices, simple profit-taking ahead of a price being imposed on carbon), renewables (which will ultimately come out on top, so energy producers should consider diversifying, like DTE’s solar enterprises), and public health risks due to both accidental and chronic pollution (which means that a reduction in fracking is hardly bad news for countless vulnerable residents of shale play regions)? The “bad news” alluded to presumably has to do with jobs, but as the REMI study has demonstrated, there are far more (and safer) jobs in a renewables economy than in the fossil-based economy we have now (https://citizensclimatelobby.org/remi-report/).

    • Larry Harrison

      I like your article and I worked for an arrogant major and fortunately it was for only the last 1/2 of my 50 years. I was working on a Shale Oil project in the eastern slope of the rockies and salazar was against Shale Oil and gas because it requires 2 – 5 barrels of water to produce one barrel of oil. What do they do with the contaminated water when they are through fracing, Hydraulic fracing https://en.wikipedia.org/wiki/Hydraulic_fracturing
      Disposal of fracing water, pump it back into the ground utilizing injection wells. http://energyblog.nationalgeographic.com/2013/10/04/fracking-water-its-just-so-hard-to-clean/
      Major oil companies do not have the interest of the people at heart, it is about Big Money and politics. They have political clout and lobbies to support them. It is why or so they said the Rockefeller Foundation divested itself of all fossil fuel holdings. Drilling oil wells is one thing but when it comes to fracing, that is a whole different issue. Drilling a hole and letting the oil run out is one thing but pumping millions of gallons of water in a well to actually break or fracture the rock is rocking mother nature’s boat.
      They have to make a lot of money to pay the lucrative salaries and dividends so how do they make money the easy way, it is too costly to develop renewables.

  • Jerry

    Despite the rebound that Chesapeake stock has seen it is not looking hopeful on the horizon. Oil and Gas companies will be under even more pressure. I fear Chesapeake are in for a long and painful ride and there will be plenty of restructuring to do if they want to come out the other end…