Aubrtey McClendon is back at it, playing "Flip that Shale Property". After being ousted from Chesapeake, he's managed to land on his feet and start another company with $1.2 billion in funding.
Aubrey made it clear that the true path to riches is to buy a shale property for 1x and sell it for 3x or 5x. Create a halo around Natural Gas and demonize his main competitor, coal. Did you know that Aubrey McClendon donated $26 million to the Sierra Club (from 2007 to 2010) for the sole purpose of attacking coal?
From Time Magazine:
"TIME has learned that between 2007 and 2010 the Sierra Club accepted over $25 million in donations from the gas industry, mostly from Aubrey McClendon, CEO of Chesapeake Energy—one of the biggest gas drilling companies in the U.S. and a firm heavily involved in fracking—to help fund the Club’s Beyond Coal campaign. Though the group ended its relationship with Chesapeake in 2010—and the Club says it turned its back on an additional $30 million in promised donations—the news raises concerns about influence industry may have had on the Sierra Club’s independence and its support of natural gas in the past. It’s also sure to anger ordinary members who’ve been uneasy about the Club’s relationship with corporations."