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Chesapeake Bid-Rigging Scandal Could Be The Final Blow For McClendon

Forbes -- This morning Reuters published the most recent investigation in its blistering series of revelations against Chesapeake Energy and its CEO Aubrey McClendon. The piece discloses internal emails between Chesapeake and rival energy company Encana that seem to show evidence of collusion and bid rigging between the companies — done with the intention of driving down land leasing costs in Michigan.

Assuming the email revelations are accurate and taken in context, this looks very bad for McClendon. In one email from June 16, 2010, he writes to a Chesapeake exec that it was time ”to smoke a peace pipe” with Encana “if we are bidding each other up.” The Chesapeake exec responded to McClendon that he had reached out to Encana “to discuss how they want to handle the entities we are both working to a

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Submitted Jun 28, 2012 By: NHLiveFree

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52MPG Champion Author Dayton Posts:7,253 Points:1,740,650 Joined:Apr 2006	Message Posted: Jun 29, 2012 1:22:54 AM Ignore 52MPG Report Abuse Now the lawyers get rich.
NHLiveFree Champion Author New Hampshire Posts:11,083 Points:1,621,355 Joined:Jun 2008	Message Posted: Jun 28, 2012 10:00:37 PM Ignore NHLiveFree Report Abuse Time for this crook to do some real jail time. One more crime courtesy of the executives of the Big Oil and Gas cartels who love us all! Could someone interpret what TableTalk meant. To me it just came out like a damaged in shipping Table Talk Pie from Worcester, MA. Amazing how votes and comments on this news articles disappeared after 6:19AM today! Thanks for the censorship on bad Big Oil news PD!
PDQBlues Champion Author San Diego Posts:7,064 Points:1,446,375 Joined:Jan 2009	Message Posted: Jun 28, 2012 8:11:24 PM Ignore PDQBlues Report Abuse We can hope.
ktyson13 Champion Author Maryland Posts:1,541 Points:395,575 Joined:Aug 2010	Message Posted: Jun 28, 2012 9:45:41 AM Ignore ktyson13 Report Abuse not surprising.
bart_reed Champion Author Los Angeles Posts:3,964 Points:783,680 Joined:Mar 2011	Message Posted: Jun 28, 2012 8:54:26 AM Ignore bart_reed Report Abuse Is someone going to jail?
BurntOrange Champion Author Austin Posts:8,717 Points:1,581,065 Joined:Nov 2007	Message Posted: Jun 28, 2012 8:30:26 AM Ignore BurntOrange Report Abuse McClendon's new favorite song -- "So you had a bad day"
sljbc475 Champion Author Tucson Posts:4,210 Points:870,425 Joined:Dec 2010	Message Posted: Jun 28, 2012 7:39:40 AM Ignore sljbc475 Report Abuse Ok
A2J Champion Author Richmond Posts:3,070 Points:601,975 Joined:Aug 2011	Message Posted: Jun 28, 2012 7:15:47 AM Ignore A2J Report Abuse so ?
Agarre Champion Author Richmond Posts:1,335 Points:263,785 Joined:Feb 2012	Message Posted: Jun 28, 2012 7:13:09 AM Ignore Agarre Report Abuse Crazy
TableTalk Champion Author Virginia Posts:1,184 Points:557,200 Joined:Nov 2008	Message Posted: Jun 28, 2012 7:06:41 AM Ignore TableTalk Report Abuse Lower land costs means cheaper gas. Makes sense to me. I've been in competitive positions. There are times when the fight doesn't result in better performance and service but just spite and the two warring parties end up poorer for it. Let's talk so all can win and benefit--even the customer and the people who are leasing the land upon which the drillers drill.
tomok Champion Author Portland Posts:32,970 Points:2,344,535 Joined:Aug 2006	Message Posted: Jun 28, 2012 5:18:00 AM Ignore tomok Report Abuse Between the two of us, let's keep the cost of land leasing to a minimum. Don't drive up the cost but let's make it cheaper for just US! We say: Collusion! There will always be whistle blowers and the workers for the company will sometimes not let certain things go by the wayside. Maybe one day we will hear about Big oil and the natural gas companies doing the same thing? You think? When will we hear about 'coming out of the closet' Barry (aka – vampire/ghost hunter) doing something similar with his federal government money giveaways? Whatever the size or shape of the vehicle, Produce and ‘Drive’ vehicles with high MPG, are very safe, reliable, have a ‘reasonable’ cost and a good ‘value’ for the money. Consider using other forms of less expensive transportation to lower your cost. The price of fuel at the pump is too high! 12/22/2012!
skippypa Champion Author Hawaii Posts:8,466 Points:1,738,980 Joined:Jun 2008	Message Posted: Jun 28, 2012 5:09:29 AM Ignore skippypa Report Abuse Ok
pachukdog1 Champion Author Pensacola Posts:1,737 Points:376,300 Joined:Jan 2012	Message Posted: Jun 28, 2012 5:09:14 AM Ignore pachukdog1 Report Abuse haha
WonderfulMI Champion Author Michigan Posts:11,636 Points:1,784,960 Joined:Jun 2008	Message Posted: Jun 28, 2012 5:05:41 AM Ignore WonderfulMI Report Abuse It is just business. Price fixing has been illegal for over 100 years. Apparently, business people feel that there is too much government regulation.
kirzon484 Champion Author Atlanta Posts:1,856 Points:431,335 Joined:Jun 2011	Message Posted: Jun 28, 2012 5:01:20 AM Ignore kirzon484 Report Abuse ok
mastermariner Champion Author Texas Posts:4,247 Points:493,010 Joined:Jun 2011	Message Posted: Jun 28, 2012 4:57:04 AM Ignore mastermariner Report Abuse It happens
quasar502 Champion Author Lansing Posts:3,573 Points:800,150 Joined:Jan 2011	Message Posted: Jun 28, 2012 4:54:02 AM Ignore quasar502 Report Abuse Hang em high. Seriously. Set an example here.
ILVET Champion Author Illinois Posts:14,784 Points:2,924,415 Joined:Jan 2005	Message Posted: Jun 28, 2012 4:53:29 AM Ignore ILVET Report Abuse Go figure
BigDogOH Champion Author Cincinnati Posts:8,498 Points:1,806,845 Joined:Mar 2008	Message Posted: Jun 28, 2012 4:52:28 AM Ignore BigDogOH Report Abuse Typical
humblepie Champion Author Toledo Posts:34,147 Points:2,369,420 Joined:Mar 2006	Message Posted: Jun 28, 2012 4:48:08 AM Ignore humblepie Report Abuse what scandal ????? fast & furious is a scandel.............
pbug101 Champion Author Georgia Posts:2,449 Points:577,950 Joined:Aug 2011	Message Posted: Jun 28, 2012 4:47:40 AM Ignore pbug101 Report Abuse ok
jeff95519 Champion Author California Posts:2,442 Points:1,352,290 Joined:Sep 2008	Message Posted: Jun 28, 2012 4:46:42 AM Ignore jeff95519 Report Abuse ok now what
swede Champion Author Cleveland Posts:3,757 Points:1,674,050 Joined:Feb 2003	Message Posted: Jun 28, 2012 4:46:42 AM Ignore swede Report Abuse McClendon must go.
Bill100 Champion Author Grand Rapids Posts:41,473 Points:1,160,895 Joined:Jan 2010	Message Posted: Jun 28, 2012 4:46:00 AM Ignore Bill100 Report Abuse Always people ready, willing, and eager to cheat.
dinomen Champion Author Arkansas Posts:1,882 Points:718,685 Joined:May 2010	Message Posted: Jun 28, 2012 4:45:58 AM Ignore dinomen Report Abuse Ok.
JoJoQc Champion Author Montreal Posts:5,336 Points:1,040,155 Joined:May 2010	Message Posted: Jun 28, 2012 4:42:22 AM Ignore JoJoQc Report Abuse Hmmmm grrreed !!!!!
Foxt Champion Author Minnesota Posts:5,250 Points:2,018,380 Joined:Jul 2006	Message Posted: Jun 28, 2012 4:39:40 AM Ignore Foxt Report Abuse They just figured that out now?
4bobux Champion Author Peoria Posts:1,962 Points:409,230 Joined:Mar 2012	Message Posted: Jun 28, 2012 4:38:05 AM Ignore 4bobux Report Abuse ok
panda317 Champion Author Massachusetts Posts:2,239 Points:684,475 Joined:Aug 2002	Message Posted: Jun 28, 2012 4:35:04 AM Ignore panda317 Report Abuse ok
SUPERSTEVIEO Champion Author Quebec Posts:3,523 Points:787,115 Joined:Oct 2010	Message Posted: Jun 28, 2012 4:33:15 AM Ignore SUPERSTEVIEO Report Abuse just one example of collusion... wait till one day we hear the same about gas companies...
neptune2008 Champion Author Michigan Posts:8,563 Points:1,667,775 Joined:Aug 2008	Message Posted: Jun 28, 2012 4:32:54 AM Ignore neptune2008 Report Abuse whoa...they got caught?? anything gonna be "done" ?
Rednix Champion Author Miami Posts:6,148 Points:1,273,785 Joined:Jul 2009	Message Posted: Jun 28, 2012 4:31:58 AM Ignore Rednix Report Abuse Hmmm...
TIGERPAW46 Champion Author Florida Posts:7,120 Points:1,353,810 Joined:Mar 2004	Message Posted: Jun 28, 2012 4:31:28 AM Ignore TIGERPAW46 Report Abuse seem to show evidence of collusion. Why don't they do anything about the multitude of collusion in the oil & refinery etc industry?
Ziggy1962 Champion Author New Jersey Posts:5,740 Points:1,809,710 Joined:Aug 2006	Message Posted: Jun 28, 2012 4:30:38 AM Ignore Ziggy1962 Report Abuse He's done.
OldMan322 Champion Author Illinois Posts:5,145 Points:1,592,790 Joined:Jul 2008	Message Posted: Jun 28, 2012 4:29:33 AM Ignore OldMan322 Report Abuse "gabisgram" YES !!
Dailyrun Champion Author Kentucky Posts:1,972 Points:386,890 Joined:Apr 2012	Message Posted: Jun 28, 2012 4:28:43 AM Ignore Dailyrun Report Abuse hang 'em.
gassy4u Champion Author Mobile Posts:3,763 Points:1,326,210 Joined:Sep 2005	Message Posted: Jun 28, 2012 4:28:23 AM Ignore gassy4u Report Abuse Common practice.
curlypooh Champion Author New Jersey Posts:11,157 Points:2,003,845 Joined:Apr 2007	Message Posted: Jun 28, 2012 4:27:57 AM Ignore curlypooh Report Abuse What about all the give away that OBOMBUS does in office. That could be news for years!
millerin Champion Author Orlando Posts:2,300 Points:479,415 Joined:Jan 2012	Message Posted: Jun 28, 2012 4:24:27 AM Ignore millerin Report Abuse hmm...
gabisgram Champion Author Michigan Posts:2,186 Points:910,300 Joined:Sep 2006	Message Posted: Jun 28, 2012 4:22:42 AM Ignore gabisgram Report Abuse Typical.
1cheapgasin Champion Author Indianapolis Posts:5,554 Points:1,208,765 Joined:Jul 2009	Message Posted: Jun 28, 2012 4:22:14 AM Ignore 1cheapgasin Report Abuse .
1cheapgasin Champion Author Indianapolis Posts:5,554 Points:1,208,765 Joined:Jul 2009	Message Posted: Jun 28, 2012 4:21:57 AM Ignore 1cheapgasin Report Abuse Time for jail.
abacus44 Champion Author Toms River Posts:3,475 Points:747,515 Joined:Jan 2011	Message Posted: Jun 28, 2012 4:17:23 AM Ignore abacus44 Report Abuse Serious problems there.
Cachase1 Champion Author Oklahoma City Posts:11,445 Points:2,379,130 Joined:Aug 2003	Message Posted: Jun 28, 2012 4:15:35 AM Ignore Cachase1 Report Abuse They're going down anyway. It has been on the news here for a while now.
Tru2psu2 Champion Author Winston-Salem Posts:14,465 Points:1,553,680 Joined:Feb 2004	Message Posted: Jun 28, 2012 4:14:24 AM Ignore Tru2psu2 Report Abuse He's done!
SavingInNC Champion Author North Carolina Posts:5,783 Points:1,091,740 Joined:Oct 2006	Message Posted: Jun 28, 2012 4:13:50 AM Ignore SavingInNC Report Abuse Lord have mercy on us
VB_Richard Champion Author Virginia Beach Posts:1,648 Points:350,620 Joined:Dec 2011	Message Posted: Jun 28, 2012 4:13:49 AM Ignore VB_Richard Report Abuse Greed is not dead!
gravityhurts Champion Author North Carolina Posts:4,083 Points:935,555 Joined:Sep 2008	Message Posted: Jun 28, 2012 4:11:38 AM Ignore gravityhurts Report Abuse Not good.
sdchris Champion Author San Diego Posts:2,546 Points:735,900 Joined:Jun 2008	Message Posted: Jun 28, 2012 4:08:29 AM Ignore sdchris Report Abuse Ouch
fxb1 Champion Author Louisiana Posts:2,533 Points:603,985 Joined:Mar 2011	Message Posted: Jun 28, 2012 4:08:18 AM Ignore fxb1 Report Abuse ok