The Irony Gods Are Cackling
Somewhere, the irony gods are having a real belly laugh. They are sitting back and cackling that, on the exact same day Chesapeake (CSK) CEO Aubrey McClendon agreed to depart from the second-largest natural gas producer in the country, Kinder Morgan (KMP) agreed to snap up Copano Energy (CPNO). Kinder Morgan is already the nation's largest oil-and-gas pipeline company, and Copano is its pipeline partner -- and this takeout will enable Kinder to get much bigger in the business that McClendon had personified.
What's so comical and twisted about this? Aubrey McClendon, whom I have interviewed many times over the years, built Chesapeake on the notion that rising demand in natural gas and natural gas liquids, and therefore rising prices thereof, would make the company he cofounded into the greatest independent oil-and-gas company on Earth....514 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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