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View Diary: Shale Gas Bubble About to Burst: Art Berman, Bill Powers (89 comments)

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  •  Who is going to get screwed this time? (9+ / 0-)

    I have been upset that fracking is coming to our area. Do you have any idea what happens to the people who have signed leases and had their land leases flipped? There have been a lot of leases signed and the landowners wouldn't listen at all to our Frackban group. So from what I gather Chesapeake has been profiting from land speculation instead of gas wells? Anymore info would be appreciated.

    •  The mineral owners are not overly impacted even (2+ / 0-)
      Recommended by:
      texasmom, Lujane

      if there is basically fraudlent lease flipping. If the drilling happens, things will proceed as per the original lease contract. If there is a scam, the lessors will have their payments, and there will be no activity on the land.

      There can be no protection locally if we're content to ignore the fact that there are no controls globally.

      by oldpotsmuggler on Thu Nov 22, 2012 at 08:18:04 PM PST

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      •  I believe a lot of companies are delaying (6+ / 0-)

        drilling in hopes that natural gas prices will rise - as they are starting to do.  I'm not sure gas prices around $3 makes drilling a pricey horizontal shale well worth it.  The companies may try to extend the leases for another 2 years, which would mean paying the landowners another leasing bonus.

        It looks like natural gas prices were at or approaching their 52-wk. high on Wednesday, so all this could change with a continued rise.

        The truth always matters.

        by texasmom on Thu Nov 22, 2012 at 08:30:33 PM PST

        [ Parent ]

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