More on Aubrey McClendon and his powerful legacy
A few more articles on Aubrey McClendon. He will be well-remembered as a key player in the world-shaking energy revolution in the U.S.
For background on Mr. McClendon and how he played a massive role in the energy revolution check out:
3/4 – Russell Gold at the Wall Street Journal – How Aubrey McClendon Led Today’s Energy Revolution – Article calls him not just an advocate but the chief apostle of hydraulic fracturing. He took the lead in fracking and grabbing lots of land to explore.
Article explains Mr. McClendon funded the “Coal Is Filthy” effort in Texas back in 2007. His campaigning successfully blocked 11 new coal plants. Article asserts Mr. McClendon fired one of the first shots in the massive war on coal.
Mr. Gold speculates on his legacy:
I suspect, however, that Aubrey McClendon will be remembered not for these transgressions but for helping to usher in an era of abundant natural gas, a weakened OPEC and a grievously wounded American coal industry. We are all living in the energy world that he envisioned a decade ago.
As a part of my frail efforts to gain knowledge of energy I have learned that it would be wise to read anything written by Mr. Gold.
3/4 – MIT Technology Review – How Chesapeake CEO Aubrey McClendon Helped Push Coal to the Brink – Article points out Mr. McClendon donated $26M to the Sierra Club to be used in their “Beyond Coal” program to shut down coal plants and thus reduce use of coal. This serves to reduce the supply of electricity from coal and therefore increase the demand for natural gas, which would increase the demand for his company’s product, thus would make him more money.
Article points out that Sierra Club doesn’t mind being used as a tool of big oil and gas if it furthers their goal of shutting down one sector of the energy industry at a time.
3/4 – Wall Street Journal – McClendon’s Death Casts Cloud Over Probe – The Department of Justice moved to withdraw the indictment of Mr. McClendon the day after his death.
Article explains there is concern in the energy industry whether the probe is going to target other people. Chesapeake Energy revealed they have been cooperating with the probe for some time. In return they will be exempt from any criminal prosecution and any penalties that might arise from any cases.
In the first article I mentioned above, Mr. Gold points out that the withdrawal of indictment by DoJ means we won’t see any of the evidence against Mr. McClendon.