By Gwen Lachelt
May 4, 2012
Colorado State Representative Jerry Sonnenberg has introduced House Bill 1356 that would prohibit local governments from receiving state severance tax funds if they “in any way restrict or delay” oil and gas development.
This bill is all but dead but if you live in Colorado call your State Representative and Senator and urge them to vote no on HB 1356. Not only does this regressive legislation need to be killed before the 2012 legislative session ends this month but also Colorado needs to hear loud and clear that we don’t ever want to see the likes of this bill again.
May 3, 2012
We have been watching the demise of Chesapeake Energy (CHK) unfold. In addition to the news of $1.1 billion in unreported loans, Reuters has now exposed a $200 million hedge fund which Aubrey McClendon ran from the headquarters of Chesapeake Energy. This hedge fund invested in the same commodities that Chesapeake produces. Further, Senator Nelson has now called for an investigation by the Department of Justice to look into possible fraud and price manipulation.
The issues of corporate governance, potential fraud, the use of off balance sheet financing and the complexity of financial engineering has been nothing short of breathtaking. But I think we need to step back and examine the full import and implications of shale gas economics because Chesapeake may simply be a microcosm of a more systemic anomaly which is much broader and more problematic.
May 2, 2012
Come join us July 28th at the Capitol!
Sign up at StoptheFrackAttack.org
By Nick Magel
April 26, 2012
Yesterday I attended Newmont Mining Co.’s annual shareholder meeting. The meeting took place in a small hotel banquet room in a Wilmington, DE hotel. The Denver-based company has held its annual meeting here ever since 2007 after meeting in Denver became a lightening rod for annual protests against their irresponsible mining operations. However, while Newmont may have hidden away from protestors outside their meetings, they continue to face criticism inside their shareholder meeting.
Earthworks went up to the meeting to voice our concerns regarding Newmont’s continued lack of a robust community consultation and a free prior and informed consent (FPIC) policy for their mine projects, most recently at their proposed Minas Conga project in Peru. Here’s our statement and question to the Newmont Board of Directors:
April 24, 2012
The House Majority recently introduced HR 4402 a bill called the National Strategic and Critical Minerals Production Act of 2012. The authors cleverly spell out the purported purpose in a series of whereas clauses that form the bill’s preamble. Ostensibly, the problem wants to solve is a dearth of domestic production of so-called rare earth or critical minerals. These minerals consist mainly of those elements in the bottom two rows of the periodic table and have varied applications in electronics, hybrid technology, renewable energy, and defense industries.