One-Percent

Sun, 2011-12-04 13:00Steve Horn
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U.S. Rep. Dan Boren, Exemplar of Political Corruption

Today, The New York Times ran an investigative piece uncovering a thick, multi-layered corruption scene, honing in on one man: U.S. Rep. Dan Boren (D-OK). Boren, many will recall, is one of the original co-sponsors of H.R. 1380, the NAT GAS Act, also known as the Pickens Plan, which would given tax credits to natural gas vehicles - the bigger the vehicle the more tax credits recieved. 

As I have covered on numerous occasions, the NAT GAS Act was written by and for the trio of energy magnate T. Boone Pickens; Pickens' long-time business partner and President and CEO of Clean Energy Fuels Corp., Andrew Littlefair; and Chesapeake Energy's CEO Aubrey McClendon. I coined the three a “self-enriching trifecta.” 

Boren, as revealed by the Times, has served for years as a useful pawn for the unconventional gas industry insiders, or what the Occupy movement has rightfully coined the “one-percent.”

As Gas Riches Remake Plains, Lawmaker Shares in Bounty,” the NYT article written by Eric Lipton, reveals many important ties between Boren and the gas industry which he is dutifully serving as a “public servant.”

Fri, 2011-11-18 05:15Steve Horn
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ExxonMobil and Shell Eyeing North American LNG Export Deals

Yesterday, LNG World News reported that ExxonMobil Vice President Andrew Swiger announced, at a conference hosted by Bank of America Merrill Lynch, that it was actively seeking LNG (liquefied natural gas) export terminals throughout North America, including, but not limited to, in British Columbia and on the Gulf Coast.

In terms of exports from North America, whether it is the Gulf Coast or whether it is Western Canada, it’s something we’re actively looking at,” said Swiger.

So, where are these prospective export terminals located, what are the key pipelines carrying the unconventional gas produced from shale basins, and what are the key shale basins in the mix? Hold tight for an explanation.

Golden Pass LNG Terminal and Golden Pass Pipeline

The LNG World News article explains that ExxonMobil “has a stake in the Golden Pass LNG Terminal in Texas,” but does not explain exactly what the “stake” is.

A bit of research shows that ExxonMobil is a 17.6% stakeholder in the Golden Pass LNG Terminal, according to a March 2011 article publshed by Platts. It is co-owned by ConocoPhillips and Qatar Petroleum, who own a 12.4% and 70% stake in Golden Pass LNG, respectively.

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