New York Times article refers to shale gas drilling as a "giant ponzi scheme".
Replies to This Discussion
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Permalink Reply by adubu on -
Ezra-- The Dallas paper is becoming liberal along the lines of the NY Times IMO
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Permalink Reply by Katie McCullin on -
Thought you might find this interesting and informative. In response to this article, Chespaeake's CEO sent a letter to each of the company's employees. Here you go!
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Permalink Reply by Katie McCullin on
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Thanks! Glad you enjoyed it.
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Permalink Reply by The_Baron on
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Seems to me that the Times struck a nerve...
I think there is a good deal of truth to what they say in the current price structure. IF n.gas were to rise even by a few bucks I think it would be a didderent game al togther.
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Permalink Reply by Mark Pomeroy on
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The average ultimate recovery from Hayneville wells will be 3 to 4 BCF of economically significant production. At $5.00 gas, this will not provide a reasonable rate of return on $11 million wells (includes well, land, infrastructure). The link to Mr. McClendon's letter is broken, but in the excerpts I read, he never says the play will pay out. If he didn't say that it will, it's an interesting omission since that is the crux of the NYT article. It's a great time to be a royalty owner.
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Permalink Reply by Parkdota on
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Today on msn money...video about "natgas bubble".
http://money.msn.com/how-to-invest/video.aspx?vid=0f85d0ec-3973-4ba...
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Permalink Reply by adubu on
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Parkdota--- CNBC is also biased to left--this guy Ina Urbina is a fear mongering demagoguery of 1st class every article is about liberal biased as you can write. He has written on toxic chemical in water from hydraulic fracing and negative stuff about the Horizon Oil Rig blow out. (He is full of Junk Science) I wonder if he is related to the baseball player from Venezuela that was arrested for attempted murder few years ago?? Is he from Venezuela? Is in US legally?
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Adubu....ha yeah he probably is. I just posted for others to see as I don't believe a word of the hype. More so, I believe the usage of words such as "ponzi scheme" and "bubble" are silly at best and can even be considered irresponsible. Just like many other businesses in America if we survive the down times and contraction then massive rewards are in the near future. Natgas got a double hit with oversupply but the big operators are HBPing and after that prices will rebound. Everyone will be happy again.
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Permalink Reply by Joe Aldridge on
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No, not the Green People or Obama.
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