Don't Be Downstream

Aubrey McClendon is America's foremost fracking advocate.  He's the former CEO of Oklahoma-based Chesapeake Energy, the most active natural gas driller/fracker in the country -- "former" because good ol' Aubrey was forced out by the Chesapeake Board (comprised entirely of his close friends) after he nearly bankrupted the company while raiding the company cookie jar to fill his own pockets.  Pretty bad when you're fired by your best friends.

Under McClendon, Chesapeake Energy operated as a highly-leveraged Ponzi scheme, making more money from flipping land and gas leases than from actual natural gas production.  He'd buy a lease to frack on Farmer Brown's property, then sell that lease to an actual producer for 7-8 times what he paid, then use that money to buy up more leases and sell them, and so forth.  McClendon also borrowed $1 billion personally against his stake in the company, and used company employees to do over $3 million of personal work for him, including home repair.

Aubrey McClendon is a high-rollin' dog infested with fleas.  And guess what?  He's back in the game.  McClendon has just launched his latest fracking enterprise in southeastern Ohio.  Oh, goody.  He's calling the company "Upstream".

Buster's advice:  When Upstream comes to your neck of the woods, don't be downstream.