Replies to This Discussion

Permalink Reply by Bill G on November 5, 2008 at 5:00

No one knows anything Cooter, Know one knows anything about this guy, JUST CHANGE! That is all he has told us! We will just have to wait and see, everything is speculation! Just Pray, wait and see!

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Permalink Reply by getoverit on November 5, 2008 at 5:07

Expect the worst, hope for the best. I have no confidence in this guy, which is why I didn't vote for him. I might as well go collect a welfare check. Obama's not going to let us landowners profit anymore than we already have. We're all doomed. =(

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Permalink Reply by Wolverine on November 5, 2008 at 5:14

I agree to that STATEMENT!!! ECT!!!

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Permalink Reply by Grice on November 5, 2008 at 5:10

Here is the text of one report...

According to Bloomberg, Oklahoma oilman Aubrey McClendon, CEO of Chesapeake Energy (CHK), believes his company and other natural gas producers will thrive because of Barack Obama’s historic victory. Obama and a Democrat-led Congress favor windfall-profits tax on petroleum producers and will likely push for use of compressed natural gas in automobiles.

McClendon, citing a current bill introduced by Democrats that calls for incentives to install CNG pumps at stations and induce American to buy CNG-powered cars, believes a Democratic administration is more likely to pursue the use of CNG as fuel.

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Permalink Reply by Wolverine on November 5, 2008 at 5:20

Lets hope Grice!!!

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Permalink Reply by J on November 6, 2008 at 11:01

I don't think I still believe anything that McClendon and Chesapeake say anymore. At least not till he gets his stock prices back where he wants them. Maybe Obama will pay those drafts that Chesapeake didn't.

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Permalink Reply by Two Dogs, Pirate on November 5, 2008 at 5:13

I think he will be good for NG. Al Gore pushed hard for merchant power plants that use NG. If I remember correctly ther were 2 proposed for Louisiana one down around Mamou that was shot down by the rice farmers that had concerns about them lowering the water table and another around Ruston that was shot down by the same concern about the water level.

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Permalink Reply by Grice on November 5, 2008 at 5:13

And another....

Obama May Bring New Market for Gas Producers Chesapeake, XTO

By Dan Lonkevich

Nov. 5 (Bloomberg) -- Oklahoma oilman Aubrey McClendon figures president-elect Barack Obama, who favors a windfall- profits tax on petroleum producers and resists allowing new drilling on federal lands, will help his business.

Like other energy companies focused on onshore gas wells in the U.S., McClendon's Chesapeake Energy Corp. stands to benefit should Obama and a Democrat-led Congress push for use of compressed natural gas in automobiles.

"The Democrats have been very engaged about compressed natural gas in the last few months,'' McClendon, chief executive officer at Oklahoma City-based Chesapeake, said in an Oct. 28 telephone interview. ``A Democratic administration is more likely to pursue the use of CNG as a fuel.''

McClendon cited a bill that Democrats Rahm Emanuel of Illinois and Dan Boren of Oklahoma introduced in the U.S. House in July. The measure called for incentives to install CNG pumps at filling stations, build CNG-powered cars and induce Americans to buy them, fostering a new market for a fuel now used mostly for heating, power generation and the making of plastics and fertilizer.

Chesapeake is among the largest onshore gas producers in the U.S. Other major independent producers, those that don't also own refineries or chemicals plants, include Devon Energy Corp., XTO Energy Inc., Anadarko Petroleum Corp., EOG Resources Inc., Southwestern Energy Co. and Ultra Petroleum Corp.

Bill to Resurface

Boren said the bill will be reintroduced in January. The goal is to have 10 percent of vehicles in the U.S. converted to CNG by 2015, he said. "I agree that an Obama victory would make it easier to pass this legislation,'' Boren said in an Oct. 30 telephone interview.

Natural-gas-fueled vehicles displaced about 250 million gallons of gasoline use in the U.S. last year, according to NGVAmerica, which represents companies lobbying for use of CNG as a motor fuel. That's equivalent to about 0.2 percent of U.S. gasoline demand. The industry's goal is to surpass 10 billion gallons by 2020, according to the Washington-based trade group.

Obama plans $150 billion in spending over 10 years to accelerate development of alternative energy sources and plug-in hybrid cars. Such investment will help create "the fuel- efficient cars of the future,'' he said in an Oct. 28 campaign speech in Chester, Pennsylvania.

Republican candidate John McCain also called for investment in alternative energy sources, along with more drilling for fossil fuels to help reduce reliance on foreign oil.

`Equally Concerned'

Billionaire oilman Boone Pickens met with both candidates in August to discuss his proposals for reducing petroleum imports and said Obama and McCain were "equally concerned about the problem.''

Pickens is the largest shareholder in Seal Beach, California-based Clean Energy Fuels Corp., a supplier of gas for buses and other vehicles.

"Either way, there's going to be more support for natural gas as a fuel for cars,'' said Richard Kolodziej, president of NGVAmerica.

Any benefits to gas producers from the political push to increase use of CNG will take years to materialize, said Michael Kahn, who helps manage $1.3 billion, including Chesapeake shares, at A.R. Schmeidler & Co. in New York. The companies also produce at least some oil, which could become subject to a proposed windfall-profits tax that would kick in when crude rises above $80 a barrel.

Tax Burden

"I'm concerned about Obama's support of a windfall-profits tax on oil companies because it will hurt the same domestic companies this bill is depending on,'' said Boren, the lawmaker from Oklahoma. "It's a non-starter for me.''

Chesapeake's McClendon has promoted gas as an alternative to oil that's cheaper than crude and more plentiful in the U.S. Other gas producers have been reluctant to push for legislation to spur use of the fuel in automobiles, a situation that may change if prices drop, McClendon said.

"An extended period of $5 to $6 natural gas may change some minds,'' he said.

Gas futures in New York rose above $13 per million British thermal units in July, the highest since December 2005. The futures tumbled below $7 last month.

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Permalink Reply by Bill G on November 5, 2008 at 5:30

He will be good for NG, This economy will gain grounds under him, but our principals will change just as they did under FDR, This is a step in history my friends a Change! Times will Change. The uncertainty we feel now will be secured by the media and elite that elected him!

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Permalink Reply by North LA on November 5, 2008 at 11:01

"McClendon cited a bill that Democrats Rahm Emanuel of Illinois and Dan Boren of Oklahoma introduced in the U.S. House in July. The measure called for incentives to install CNG pumps at filling stations, build CNG-powered cars and induce Americans to buy them, fostering a new market for a fuel now used mostly for heating, power generation and the making of plastics and fertilizer."

Rahm Emanuel was recently selected by Obama to be his Chief of Staff.

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Permalink Reply by keb on November 5, 2008 at 18:19

Rahm worked during the Clinton years and we thrived; so, why not give Obama a chance. Pray for him that he does well. At least give him a chance. He can't work miracles, but look it took 8 years to get into this mess with Pres. Bush; he won't fix everything in 4yrs. We know as much about him as you do about McCain. He spoke clearly, I thought. I'm looking forward to some great and beneficial changes.

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Permalink Reply by Henry, Landowner on November 6, 2008 at 3:35

I saw a fund manager on Bloomberg this morning (Nov. 6, 2008). He recommended buying XTO. He thought Obama's dislike of coal would be good for natural gas.

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