Chevron nabs U.S. shale gas acreage

[Klukie]

SAN RAMON, Calif., Nov. 10 (UPI) -- A deal to acquire U.S. energy company Atlas Energy Inc. adds trillions of feet of shale gas to Chevron's portfolio in the United States, the supermajor said.

Chevron announced that it would acquire Atlas for $3.2 billion in cash and $1.1 in assumed debt. The acquisition gives Chevron access to natural gas deposits in the Marcellus Shale play in southern Pennsylvania.

Chevron Vice Chairman George Kirkland said the deal gives his company around 9 trillion cubic feet of gas reserves with the bulk of that locked in American shale deposits, including 100,000 acres of shale in Michigan.

"This acquisition is the right opportunity for Chevron," he said.

http://www.upi.com/Science_News/Resource-Wars/2010/11/10/Chevron-nabs-US-shale-gas-acreage/UPI-40631289397427/

[chemenger]

1. And we Pennsylvanians are being f**ked

Pennsylvania legislators defeated a bill to impose an extraction tax on drillers. So, the drilling companies:

profit from one of the state's resources

use our roads

our water

pollute our air

pollute our water supplies and waterways (most especially our state's first class native trout streams)

generate noise pollution

want to set up their rigs in our national parks/forests and even within city limits and right next to schools

and promise a boon to our state ecomony.

I haven't seen any real economic benefits ... where are they???

Range Resources has been airing commercials featuring Pennsylvania residents (???) claiming how they've benefitting from letting Range Resources drill on their properties. Their website is www.myrangeresources.com Yea, like we have a stake in what they're doing. Yet, people are telling me that range resources is offering property owners $1.00 (that's right ... one fucking dollar) for mineral rights. And, no one I've talked to has received any royaltie payments yet.