Its Obama Fault. His moratorium stopped the rigs
But wait we are now exporting OIL?
Chesapeake shuns gas, shrinks rig count
Chesapeake Energy Corp., which calls itself America’s Champion of Natural Gas, said Tuesday it is basically giving up on gas drilling this year, adding to an industrywide retreat from what has been deemed the fuel of the future.
The nation’s second-largest natural gas producer after Exxon Mobil Corp. said that as part of a major contraction in its operations it has cut its plan for new gas exploration by 83 percent.
Chesapeake previously had planned to operate 47 gas rigs in 2012, but now hopes to cut that rig count to eight by the end of the year, executives said during a conference call with analysts on Tuesday to discuss the company’s second-quarter earnings.
http://fuelfix.com/blog/2012/08/07/chesapeake-shuns-gas-shrinks-rig-count/
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Energy industry and banks and insurance companies are all a bunch of whiny babies. They can never own up to their mistakes. It's always way more convenient to blame the President.
But they won't ever give him credit for anything that helped them. That they built on their own - 100% without any goverment help.
