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Chesapeake's Strange Plan To Make 'Green' Gasoline

Forbes -- In announcing his intention to shake things up at Chesapeake Energy, Carl Icahn said in his letter to the board on Friday that he was disappointed the company had not followed through on a debt-reduction plan that Icahn had extracted from Chief Executive Aubrey McClendon a year and a half ago. Icahn wrote that “the promises made in 2010 proved hollow, and the company quickly abandoned their new strategy and not only accelerated land acquisitions but also capital spending on non-core assets.”

Let’s look at an especially puzzling example of this “non-core” spending: McClendon’s formation last year of Chesapeake NG Ventures, a venture capital fund into which he pledged to invest as much as $1 billion in shareholder capital for innovative strategies to increase the use of natural gas. Nevermi

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Submitted May 28, 2012 By: mastermariner

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honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: May 30, 2012 7:09:28 AM Ignore honda0105 Report Abuse any surprise that "promises ... proved hollow..."? Seems business sense has gone out the door.
DrCashFlow Champion Author Massachusetts Posts:7,074 Points:1,628,200 Joined:Jun 2008	Message Posted: May 29, 2012 2:38:02 AM Ignore DrCashFlow Report Abuse McClendon and Loans a toxic combination
RalphHightower Champion Author South Carolina Posts:3,309 Points:690,455 Joined:May 2011	Message Posted: May 28, 2012 12:53:23 PM Ignore RalphHightower Report Abuse On Saint Paddy's Day, they'll put green dye in the gas.
DanMtz Champion Author Oakland Posts:3,360 Points:1,244,300 Joined:Oct 2009	Message Posted: May 28, 2012 10:53:11 AM Ignore DanMtz Report Abuse Invest in Chesapeake and read about how the CEO is playing with your money.
OldMan322 Champion Author Illinois Posts:5,160 Points:1,595,715 Joined:Jul 2008	Message Posted: May 28, 2012 9:19:23 AM Ignore OldMan322 Report Abuse Beware of green, green is not always green
flyfast Champion Author Kansas City Posts:9,258 Points:1,827,010 Joined:Jan 2008	Message Posted: May 28, 2012 9:08:35 AM Ignore flyfast Report Abuse as long there no tax money given to them
rbrk02 Champion Author Rhode Island Posts:5,748 Points:818,205 Joined:Jan 2011	Message Posted: May 28, 2012 8:54:13 AM Ignore rbrk02 Report Abuse TomT2Lee, well said.
smokinjoe54 Champion Author Ohio Posts:4,723 Points:913,510 Joined:Feb 2010	Message Posted: May 28, 2012 8:15:40 AM Ignore smokinjoe54 Report Abuse Whatever.
mazdaboy Champion Author Portland Posts:7,898 Points:2,100,205 Joined:Aug 2003	Message Posted: May 28, 2012 8:14:30 AM Ignore mazdaboy Report Abuse I'm not buying their stock.
checkum Champion Author St. Louis Posts:7,598 Points:1,475,115 Joined:Jan 2008	Message Posted: May 28, 2012 8:01:44 AM Ignore checkum Report Abuse dreams are made of this
nwhawk Champion Author Kansas Posts:1,972 Points:573,640 Joined:Nov 2010	Message Posted: May 28, 2012 7:58:16 AM Ignore nwhawk Report Abuse whats next, peddle cars?
TomT2Lee Champion Author Cincinnati Posts:5,357 Points:1,598,730 Joined:Sep 2005	Message Posted: May 28, 2012 7:56:12 AM Ignore TomT2Lee Report Abuse It is a preview of the worst of times ... it is some of the strangest times.
vizilo Champion Author British Columbia Posts:5,729 Points:2,590,650 Joined:May 2004	Message Posted: May 28, 2012 7:55:24 AM Ignore vizilo Report Abuse who knows?
Old Timer Champion Author Akron Posts:3,747 Points:1,263,990 Joined:Sep 2003	Message Posted: May 28, 2012 7:53:06 AM Ignore Old Timer Report Abuse and......................?
greywolves Champion Author Las Vegas Posts:8,681 Points:2,430,175 Joined:Dec 2004	Message Posted: May 28, 2012 7:52:22 AM Ignore greywolves Report Abuse that's funny,radstoy! absurd, but funny.
Pointtx Champion Author Austin Posts:3,241 Points:726,055 Joined:Mar 2011	Message Posted: May 28, 2012 7:52:18 AM Ignore Pointtx Report Abuse I see a BOD that's about to lose an election.
WVUtailgater Champion Author Cleveland Posts:8,441 Points:1,699,660 Joined:Aug 2008	Message Posted: May 28, 2012 7:51:21 AM Ignore WVUtailgater Report Abuse time for an investor lawsuit
grandpadon28110 Champion Author Charlotte Posts:4,726 Points:1,144,260 Joined:Sep 2008	Message Posted: May 28, 2012 7:50:54 AM Ignore grandpadon28110 Report Abuse Ventures into non core areas is bad for businesses.
camaro_man Champion Author Kitchener-Waterloo Posts:2,237 Points:612,020 Joined:Jun 2010	Message Posted: May 28, 2012 7:50:41 AM Ignore camaro_man Report Abuse wow
turbosaab Champion Author Cleveland Posts:19,009 Points:2,339,320 Joined:Sep 2006	Message Posted: May 28, 2012 7:50:00 AM Ignore turbosaab Report Abuse OK
tamiuron Champion Author Laredo Posts:1,943 Points:726,535 Joined:Jan 2011	Message Posted: May 28, 2012 7:49:46 AM Ignore tamiuron Report Abuse need to get their act together
YodaON Champion Author Ottawa Posts:2,937 Points:781,010 Joined:Jan 2011	Message Posted: May 28, 2012 7:49:26 AM Ignore YodaON Report Abuse is there really a green fuel
rosyLI Champion Author Long Island Posts:5,645 Points:1,069,805 Joined:Apr 2010	Message Posted: May 28, 2012 7:49:20 AM Ignore rosyLI Report Abuse Everything about green is strange and usually bankrupt.
mediccoy Champion Author North Carolina Posts:11,920 Points:2,313,055 Joined:May 2006	Message Posted: May 28, 2012 7:48:25 AM Ignore mediccoy Report Abuse Another tree hugger's dream.
blueeye All-Star Author Pennsylvania Posts:766 Points:609,265 Joined:Apr 2008	Message Posted: May 28, 2012 7:48:16 AM Ignore blueeye Report Abuse Natural Gas is the way to go we have it we should be using it
Maintroll Champion Author Lexington Posts:8,639 Points:1,704,860 Joined:Aug 2008	Message Posted: May 28, 2012 7:48:14 AM Ignore Maintroll Report Abuse What an idiotic story that literally says nothing in the process.
drawee Champion Author Texas Posts:2,310 Points:449,035 Joined:Feb 2012	Message Posted: May 28, 2012 7:48:14 AM Ignore drawee Report Abuse Green really means more tax dollars up in smoke
Gearitis Champion Author Waco Posts:1,293 Points:729,085 Joined:Sep 2005	Message Posted: May 28, 2012 7:48:01 AM Ignore Gearitis Report Abuse Ok, so you are going to work on Green gasoline, just put some die it it like you do diese fuel....
Red7002011 Champion Author Mississippi Posts:3,337 Points:669,695 Joined:Jul 2011	Message Posted: May 28, 2012 7:47:12 AM Ignore Red7002011 Report Abuse Really!
racerdj Champion Author Indianapolis Posts:9,820 Points:2,057,550 Joined:Jun 2003	Message Posted: May 28, 2012 7:46:43 AM Ignore racerdj Report Abuse I agree with papou
YarnDragon Rookie Author Toronto Posts:82 Points:45,595 Joined:Apr 2012	Message Posted: May 28, 2012 7:46:43 AM Ignore YarnDragon Report Abuse Interesting.
bridgerunner Champion Author Virginia Posts:4,792 Points:1,007,810 Joined:Jul 2009	Message Posted: May 28, 2012 7:46:40 AM Ignore bridgerunner Report Abuse I'm not sure what to make of this nonsense.
papou Champion Author Tampa Posts:10,889 Points:1,907,310 Joined:Jul 2005	Message Posted: May 28, 2012 7:45:32 AM Ignore papou Report Abuse Carl Icahn is self serving !
cherican Champion Author Ontario Posts:2,595 Points:1,066,160 Joined:May 2003	Message Posted: May 28, 2012 7:44:11 AM Ignore cherican Report Abuse mmmmmmmm.
radstoy Champion Author Pennsylvania Posts:16,459 Points:3,220,705 Joined:Feb 2003	Message Posted: May 28, 2012 7:43:56 AM Ignore radstoy Report Abuse obama wants us to drive gerble powered cars.
liao Champion Author Montreal Posts:3,457 Points:1,430,185 Joined:Sep 2008	Message Posted: May 28, 2012 7:43:28 AM Ignore liao Report Abuse Just try any ideas before it runs out.
Banjoe Champion Author Winnipeg Posts:4,258 Points:615,240 Joined:Apr 2011	Message Posted: May 28, 2012 7:43:23 AM Ignore Banjoe Report Abuse Lots of smoke on this one but I'm missing the mirrors.
johnzone1 All-Star Author Fort Wayne Posts:718 Points:359,305 Joined:May 2011	Message Posted: May 28, 2012 7:40:47 AM Ignore johnzone1 Report Abuse American natural gas....it is the future of American energy.
links_slayer Rookie Author Madison Posts:94 Points:290,180 Joined:Nov 2011	Message Posted: May 28, 2012 7:39:32 AM Ignore links_slayer Report Abuse they call it green because it's so $$$$, right?
kobes1 Champion Author Florida Posts:2,502 Points:559,110 Joined:Aug 2011	Message Posted: May 28, 2012 7:39:26 AM Ignore kobes1 Report Abuse WHAT?
gabbygusIN Champion Author Indiana Posts:7,241 Points:1,560,850 Joined:Oct 2008	Message Posted: May 28, 2012 7:39:22 AM Ignore gabbygusIN Report Abuse More and more are changing to CNG!!
JCUBE Champion Author Michigan Posts:8,575 Points:1,916,195 Joined:Aug 2003	Message Posted: May 28, 2012 7:38:02 AM Ignore JCUBE Report Abuse Opening for the green dye market...the enviornmindless at work again!
gudrench Champion Author Houston Posts:2,623 Points:529,990 Joined:Mar 2003	Message Posted: May 28, 2012 7:36:30 AM Ignore gudrench Report Abuse Cool, it will be popular on St Patricks day.
slowtrain Champion Author Georgia Posts:3,672 Points:949,875 Joined:Aug 2008	Message Posted: May 28, 2012 7:36:08 AM Ignore slowtrain Report Abuse OK
1178richmond Champion Author New Jersey Posts:2,901 Points:799,250 Joined:Feb 2011	Message Posted: May 28, 2012 7:35:15 AM Ignore 1178richmond Report Abuse ok
BeatOPEC All-Star Author Indianapolis Posts:857 Points:197,030 Joined:Apr 2011	Message Posted: May 28, 2012 7:35:09 AM Ignore BeatOPEC Report Abuse More hype from the green front. No real news here.
fxb1 Champion Author Louisiana Posts:2,533 Points:606,235 Joined:Mar 2011	Message Posted: May 28, 2012 7:34:41 AM Ignore fxb1 Report Abuse sure
Wierbe Champion Author Cincinnati Posts:3,757 Points:1,120,090 Joined:Apr 2006	Message Posted: May 28, 2012 7:34:18 AM Ignore Wierbe Report Abuse Business is in business to stay in business. That is the bottom line with every business. That is not so strange.
windows7isfast Champion Author Winnipeg Posts:2,419 Points:493,200 Joined:Nov 2011	Message Posted: May 28, 2012 7:33:45 AM Ignore windows7isfast Report Abuse cool
pmc3 Champion Author Missouri Posts:3,599 Points:1,024,190 Joined:Mar 2010	Message Posted: May 28, 2012 7:33:34 AM Ignore pmc3 Report Abuse We will just have to see what happens...