Chesapeake backs off from plans to drill in the NY Watershed

New York Times

Some New York City politicians welcomed Chesapeake’s decision and said they hoped it would have a broader impact. “To proceed with drilling doesn’t make any business sense and doesn’t make environmental sense, and I think Chesapeake understands this, and I am happy they have come to that decision,” said James F. Gennaro, chairman of the City Council’s Committee on Environmental Protection. “If only we could get the state government to come to the same realization. It is strangely ironic.”

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Permalink Reply by Robin Fehrenbach Scala on November 4, 2009 at 3:46pm
This action by Chesapeake feels like a stab in the back. It seems like the company felt it would strengthen their public image or something, but frankly it just made them appear weak. It also gave the anti-drilling crowd more power and the ability to point to a major O&G company and say, "See? We are right. Even the company thinks drilling would poison the watershed. This means drilling should be banned outright!"

My opinion is that it was a very bad decision made in haste, and one that they will never recover from. I cannot see any advantage to what they did -- no advantage to them and certainly none for the industry as a whole.
Permalink Reply by Keith Mauck (Site Publisher) on November 5, 2009 at 4:23am
I can't determine if Aubrey is stating that he doesn't want the red tape hassle or if he believes there is a real danger involved. He seems to be riding the fence on this issue...

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