In its death spiral, Chesapeake Energy is trying to sell out to the Chinese. Chesapeake may change its name to Chinapeake which is spelled like this 深入能量
“America’s 100 Year Supply of Clean Natural Gas” . . . . is headed for China in a pipeline near you …
By Staff and Wire reports
Published: 6/23/2012 2:05 AM
Last Modified: 6/23/2012 4:10 AM
Rumors swirled Friday that Chinese oil and gas company Sinopec may want to buy some or all of the shares of Oklahoma City-based Chesapeake Energy Corp.
Bloomberg cited a story in investment publication The Deal that said the combination would make sense because Sinopec chairman Fu Chengyu’s former company, CNOOC, has two joint ventures with Chesapeake.
Bloomberg also noted that Chengyu was in the front row last week at Game 2 of the NBA finals in Oklahoma City, using tickets allegedly given to him by Oklahoma City Thunder co-owner and Chesapeake CEO Aubrey McClendon.
The Financial Times also reported that Chengyu was in Oklahoma this week to perform due diligence on Chesapeake assets, according to Bloomberg.
So instead of “Drill a well, bring a GI home” We have “Drill a well, sell it to China”. Wouldn’t that make a dandy billboard or yard sign for a landowners coalition ? The Shale Game has always been to sell the gas overseas. Now you know. The frack’s out of the bag. “America’s 100 Year Supply of Clean Burning Gas” is going to China via a pipeline near you, real soon. Making the USA a gas supply colony of China. Energy in Depth can dub Truthland into Chinese for their new paymasters in Beijing.
Do the math: New York is the only state in the Union where gas is state tax exempt. Out-of-state drillers can avoid NY corporate income tax. (Most of those ENRON tax accountants are out of jail) If they buy the company, they get Chesapeake’s tax loss carry forward = no federal income tax. So the Chinese can export gas tax free from NYS. Such a deal. Something they can’t do anywhere else in the world.
The local shale $hills will make it easier to hold acreage. By increasing the well spacing size to 2 square miles
Compel New Yorkers into Chinese-owned gas wells:
And keep all the gas exported from NY state tax exempt :
‘Cuz that’s what shale $hills are paid to do. By okies or chinamen. Or okies working for chinamen. And you are just in their way. Your road use ordinances are in the way of getting the gas to China. Your land use ordinances are in the way of the Chinese gas company. Your houses and water wells are too close to the Chinese gas wells.
You are in their fracking way. How patriotic is that ?