"Chesapeake courting Asian investors, markets" by Joe Carroll/Bloomberg News/3/13/2012
Reprinted in the Tulsa World:
"We are presently owned by a group of investors who don't thing gas prices are ever going above $4," McClendon said last week in an interview in Oklahoma City, where Chesapeake is based. "I want to be owned by investors who live in a part of the world that believes gas prices will never go below $10."
http://www.tulsaworld.com/site/printerfriendlystory.aspx?articleid=...
One blogger wrote:
"Oil prices are artificially high due to OPEC's formal cartel agreement as well as informal cooperation by non-OPEC governmental controlled oil production. (We may not know precisely how much higher the prices unnecessarily are.) The "excess" price is in essence an "export tax" imposed on importing countries such as the USA.
This US Government, besides being cautious in granting export facility permits, must place a significant export tax on natural gas. The tax must offset much of the difference in "energy equivalent" cost between oil and natural gas. The USA should not provide a "free lunch" to the rest of the world, when we are charged a "gourmet dinner price' for oil imports."
~ by blogger "Observer 5" Tulsa World
Couldn't have said it any better myself. Mr. Chesapeake needs to Think before putting both feet in mouth... My opine for the night.
DrWAVeSport Cd1 3/14/2012
Tags: asian, bloomberg, carroll, chesapeake, investors, joe, market, mcclendon, news, tulsa, More…
Views: 228
Replies to This Discussion
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Permalink Reply by Hopeful About Natural Gas on -
Looks like he wants to sell a lot of CHK to Asian investors. Fine, but how do they get the gas? Do we have enough export capacity for LNG???
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"We are presently owned by a group of investors who don't think gas prices are ever going above $4," McClendon said last week in an interview in Oklahoma City, where Chesapeake is based. "I want to be owned by investors who live in a part of the world that believes gas prices will never go below $10."
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Permalink Reply by DrWAVeSport Cd1 on
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HANG,
That's the Billion Dollar Question...
DOW Chemical President doesn't want "export" of LNG... DOW Chemical will fight LNG exports...
DOW Chemical wants any "nat gas" product to be "exported" as "solid" forms...
Liveris said: "We are all for exporting natural gas...We just want to see it exported in solid form instead of liquid form."
http://www.forbes.com/sites/christopherhelman/2012/03/08/dow-chemic...
Looks like Mr. Chesapeake and Mr. Dow will be butting heads...
At least Someone sees a bigger picture for the "demand" side of Our Nat Gas Glut. It's a plus sign for nat gas prices going north a little. But it's going to be a looooong bumpy road ahead I fear for 2012.
It seems like No one knows what to do with Our Nat Gas Bounty. But Store It~ LOL
DrWAVeSport Cd1 3/15/2012
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Permalink Reply by Hopeful About Natural Gas on
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humm .... I worked at the Dow Chemical plant outside of Baton Rouge when I was in college in about 1974. Somewhere i've got my old plant ID. I worked short-line railroad construction inside the plant. You would not believe the number of plant evacuations we had - and there were union jurisdictional issues happening and guys were bringing guns to work. It was insane. So I moved to the French Quarter in New Orleans and spent about a year resting and recuperating :)
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Permalink Reply by Hopeful About Natural Gas on
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I would not trade anything for my time in the French Quarter. It was great to live at Rampart and Dumaine and work on Bourbon St. It was my last fun period of irresponsibility ... until now :)
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But, these days, "fun" is going out into the woods with my dog and checking if a stream is flooding. lol!
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