Aubrey McClendon: The Politically Incorrect CEO (WSJ, 04.27.12)
Somehow I think that even if this Empire burns, he'll rise like a Phoenix.
http://online.wsj.com/article/SB10001424052702304811304577369663811...
from the article ...
This collapse in gas prices is putting a strain on Chesapeake and the industry. Chesapeake's share price is down more than 70% from its 2008 high. But Mr. McClendon sees the pipe as half-full, a period of transition during which the rush of new supply will drive more demand and create a larger market. "The price problem is really a price opportunity from the consumer perspective and of course there are more consumers than there are producers. And so the opportunity that's presented on the demand side is really quite remarkable and will be fundamental to the way American businesses compete in the world."
"Natural gas," he continues, "is a feedstock in basically every industrial process," and the price of gas in the U.S. is a fraction of what it is in Europe or Asia. "This country has an incredible advantage headed its way as Asian labor costs rise, as the cost to transport goods from Asia to the U.S. rises, as oil prices rise, as American labor costs have stagnated or gone down in the last 10 years. We have a really wonderful opportunity to kick off an industrial renaissance in the U.S."
Beware those who see the "pipe half full?" LOL!! hmmmmm ...
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Views: 352
Replies to This Discussion
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Permalink Reply by Two Dogs, Pirate on -
Beauty is in the eyes of the beholder. Someone drives the wooden stake through Aubrey's heart, then CHK dies. Aubrey is CHK.
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Permalink Reply by Hopeful About Natural Gas on -
that's true. anyone who takes over will have to overcome the mantle of Aubrey, or clone itself to his. He would be dang hard to follow even if he were not controversial.
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What I found interesting were the comments - suddenly Aubrey sounds like their hero. I kid you not, check out the comments. They are much more favorable than after any other WSJ about Aubrey that I have read. I think his comments questioning climate change and slamming Obama rang a bell with readers and they are responding.
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I can't think of anything that's really new in the article except he questions climate change and seriously does not like the president. Didn't he contribute to Obama's campaign and vote for him? Oh, he also says his time spent with the Pickens Plan was "wasted".
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Permalink Reply by Joe Aldridge on
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TD,
I agree with you. Aubrey is CHK. If he isn't there the company will die.
There are two things that are not being talked about. If it weren't for the low price of NG the US would be in a full blown depression. The second point is: CHK and the other gas companies are just TOO successful. They have found more gas than anyone ever imaged. If I remember correctly, President Carter told us we were out of gas and we had to stop using it because there was no more to be found. That was in the late 70's. My my how things do change in 35 years.
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Permalink Reply by Hopeful About Natural Gas on
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Joe - you are right. we were scrabbling to import natgas just 5 years ago!!! love him or hate him Aubrey is the person most responsible for that change. Without Aubrey there is probably no blog called Go Haynesville Shale and people would think the idea of being free of OPEC was wishful thinking. Sadly for many of us Aubrey has found too dam much natural gas!!! It's mostly supply and demand. We have lots of gas thanks to Aubrey and the other visionaries like George Mitchell and many others.
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