Chinese buy another US fracking and drilling giant.

What if I told you all that patriotic addvert shit you see early evening in the news, and in (my) newspaper about American oil and American gas and American jobs and puff up your tits and strut...... well today Chesapeake Energy the darling of the natural gas world, deep in debt, it's CEO and his family accused of corruption, the guys that gave tap water the ability to burn, sold 50% ownership to China.

So all this profit that is to swell the wealth of America thorough energy independence, will be mailed instead to Communist China.  Not the first Oklahoma City company to sell it's soul and its trade secrets to China, every major pipe valve shop, wellheads, joint, fishing tool or pump builder down there let the Chinese look under their dress, outsourced, even started factories there and now have competitors, uh hu, Chinese competitors.

Only a few weeks ago China bought another big drilling company here, Chesapeake wasn't the first to lift their "fracking" skirts for a dollar.

What about the fracking of shale oil and shale gas?  Besides the environmental costs, a new study by geologist report it's not what it suppose to be.  Fracked wells were suppose to supply natural gas for 40 years or more, it turns out the majority peter out in 5 years or less.  (see the chart above) The extraction is estimated at getting only 10% of the gas down there, it would be prohibitive to continue building pressure to get more, but over the years some of that will continue to weep up polluting air and water on the surface.  It also reports that not all hydrocarbons are equal.  NG from these sources don't produce as much energy when burned, you buy the cubic feet volume, but get less bang.  The amount of energy used to drill and retrieve it is also out of whack, in 1913 it took one barrel of oil to produce 100, in 2013 it takes 20.  It seems fracking is a destructive bubble that may pop.  Drilling into a mirage the reports writer said.