Chesapeake to spend $1 billion to hasten natural gas adoption as (auto) fuel

[phantom power]

Chesapeake Energy, a major producer of natural gas from shale, said it would invest $1 billion over 10 years in companies to hasten the adoption of natural gas as a fuel for trucks and cars.

It said it had purchased $150 million of convertible bonds in Clean Energy Fuels Corp., where natural gas promoter T. Boone Pickens owns a major stake and sits on the board. Chesapeake chief executive Aubrey K. McClendon said it would help underwrite 150 liquefied natural gas refueling stations along highway trucking routes.

http://www.washingtonpost.com/business/economy/chesapeake-to-spend-1-billion-to-hasten-natural-gas-adoption-as-fuel/2011/07/11/gIQAaIga9H_story.html

[bbinacan]

1. I like it. n/t

[Nihil]

2. Great ...

... now you'll get the mindless "I WANNA LNG HUMMER!!" squad shouting
for the destruction of the water table ...

Dumb shits.

[Champion Jack]

3. Isn't Chesapeake flailing?

I thought that they were 15 bil in debt , which was 20 bil before they sold off a 5 bill chunk to the Chinese.