Chesapeake Energy

Cool Planet: The Biochar Big Leagues and 'Shoddy Science'

In the world of biochar business, it's been mostly “talk” and little “walk.” Few biochar businesses have scaled up their operations in a serious way, despite big claims — with little scientific proof to back them up — about the substance's climate change mitigation potential.

Cool Planet Energy System is seemingly the exception to the rule, with a December 2013 Forbes article hailing the company as one apparently “too good to be true.” The heaviest hitter making a bet on biochar, Cool Planet called its marketing strategy “the ultimate contrarian solution” at the 2013 North American Biochar Symposium attended by DeSmog in Amherst, Massachusetts.

Trump's Top Regulations Advisor, Billionaire Carl Icahn, Will Profit From Weak Regulations

Deepwater Horizon oil rig on fire, left, Carl Icahn, right.

In a recent “Victory Tour” speech in Des Moines, Iowa, President-elect Donald Trump told the audience that he sought to pick a Cabinet and team of advisors composed of “people that made a fortune” because “now they’re negotiating with you, OK?”

Carl Icahn, the 26th richest man on the planet according to Forbes, fits the “made a fortune” bill. Icahn, a business partner of Trump and major donor to his presidential campaign, has been named by the President-elect as his Special Advisor on Regulatory Reform.

However, as recently reported by DeSmog, Icahn stands to gain directly from deregulation in the energy and environmental sphere. He has already made his mark on the future Trump administration by vetting and recommending the regulation-averse Scott Pruitt, whom Trump eventually picked to head the U.S. Environmental Protection Agency (EPA). 

The Billionaire Energy Investor Who Vetted Trump's EPA Pick Has Long List of EPA Violations

Natural gas refinery

Asked for his take on President-elect Donald Trump's appointment of Oklahoma Attorney General Scott Pruitt to head the U.S. Environmental Protection Agency (EPA), multi-billionaire investor and Trump business partner Carl Icahn told Bloomberg that Pruitt is “going to really be a breath of fresh air.” Given Icahn's business ties, that statement is steeped in accidental irony. 

Icahn, owner of the holding company Icahn Enterprises and a major donor to Trump's presidential campaign, was instrumental in choosing Pruitt — a man who as state prosecutor actively opposed most federal environmental regulations and denied the science of climate change — for the nation's top environmental job. As reported by The Wall Street Journal, Trump allowed Icahn, the 26th most wealthy man on the planet, to vet and interview finalists for high-level EPA jobs even though Icahn owns business assets impacted by current EPA regulations.

In addition, a DeSmog investigation shows that Icahn Enterprises owns oil industry assets based in Oklahoma, which are involved in EPA enforcement violations, and does business with TransCanada's Keystone pipeline system. 

Obama Admin Quietly Enables Oil and Gas Drilling on Public Lands and Waters, Weakens Endangered Species Act

Offshore oil platform.

As eyes turned to the most viewed presidential debate in U.S. history, the Obama administration meanwhile quietly auctioned off thousands of acres of land for oil and gas drilling in national forests, opened up 119 million acres for offshore drilling leases in the Gulf of Mexico, and delivered a blow to the Endangered Species Act. 

Will LNG Exports Save the Shale Gas Drilling Industry's Profitability? Not So Fast

Last year, a wave of bankruptcies swept the oil and gas drilling industry as oil prices collapsed, leading to layoffs, lost revenues for communities, and turning former boomtown-era mancamps into ghost towns in places like North Dakota's Bakken shale.

Even before oil prices plunged, the price of shale gas was already under siege from a domestic supply glut caused by the shale drilling frenzy. All told, prices dropped from its all-time high of over $15/mcf when the shale boom began in 2005 to $1.57/mcf — the lowest levels since 1998 — in March.

For shale exploration and production companies, however, the conventional wisdom has held for years that there is a light at the end of the tunnel — gas exports.

Unlike oil, natural gas is difficult to transport across oceans. To ship gas by tanker, it needs to be cooled to below -256 degrees Fahrenheit, an expensive and technologically challenging process, requiring the construction of multi-billion dollar Liquefied Natural Gas (LNG) import and export terminals.

Top Drillers Shut Down U.S. Fracking Operations as Oil Prices Continue to Tank

It was a tumultuous week in the world of hydraulic fracturing (“fracking”) for shale oil and gas, with a few of the biggest companies in the U.S. announcing temporary shutdowns at their drilling operations in various areas until oil prices rise again from the ashes.

Among them: Chesapeake Energy, Continental Resources and Whiting Petroleum. Chesapeake formerly sat as the second most prolific fracker in the U.S. behind ExxonMobil, while Continental has been hailed by many as the “King of the Bakken” shale basin located primarily in North Dakota.

Former Chesapeake Energy CEO Aubrey McClendon Bringing Fracking to Argentina

Aubrey McClendon, the embattled former CEO and co-founder of Chesapeake Energy, has announced his entrance into Argentina to begin hydraulic fracturing (“fracking”) in the country's Vaca Muerta Shale basin.

Though he retired as Chesapeake Energy's CEO back in 2013 in the aftermath of a shareholder revolt, McClendon wasted little time in creating a new company called American Energy Partners (AEP). AEP, like Chesapeake, has found itself mired since its onset in legal snafus over its treatment of landowners. With AEP not getting a red carpet roll-out in the U.S., McClendon has looked southward for other lucrative business adventures.

"Bait and Switch": Pennsylvania Sues Driller and Pipeline Company Over Deceptive Deals

Pennsylvania's beleaguered top prosecutor has filed a civil action against two of the nation's largest oil and gas companies, Chesapeake Energy and pipeline company Williams Partners LP, alleging that the companies defrauded over 4,000 property owners out of the royalties owed for shale oil and gas produced from their land.

“This alleged conduct amounts to a 'bait-and-switch,'” Attorney General Kathleen Kane said in a statement. “Pennsylvania landowners were deceived in thousands of transactions by a company accused of similar conduct in several other states,” she added, referring to Chesapeake Energy, which has faced class actions in Texas, Louisiana and Ohio over its royalty payments.

Meet the Lobbyists and Big Money Interests Pushing to End the Oil Exports Ban

The ongoing push to lift the ban on exports of U.S.-produced crude oil appears to be coming to a close, with Congress introducing a budget deal with a provision to end the decades-old embargo

Just as the turn from 2014 to 2015 saw the Obama Administration allow oil condensate exports, it appears that history may repeat itself this year for crude oil. Industry lobbyists, a review of lobbying disclosure records by DeSmog reveals, have worked overtime to pressure Washington to end the 40-year export ban — which will create a global warming pollution spree.

Fracker Aubrey McClendon Signs Deal in Mexico with Firm Led by Former Mexican President

Aubrey McClendon, former CEO of hydraulic fracturing (“fracking”) giant Chesapeake Energy and current CEO of American Energy Partners (AEP), has signed a joint venture with a private equity firm led* by former Mexico president Vicente Fox.* 

In a joint press release, AEP and EIM (Energy and Infrastructure Mexico) Capital announced a “long-term, landmark partnership to explore the vast exploration and development opportunities offered by Mexico's abundant oil and gas energy resources.” The deal serves as another case study of U.S.-based companies cashing in on the Mexico energy sector privatization policy the U.S. State Department helped make possible under both the Obama Administration and the Bush Administration.

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