If a mafia boss walks into a business owner’s store and “informs” that owner that the owner will start doing things the good fellas way (pay money, say 10% of all revenue) in return for “protection” from the “bad guys” that otherwise may make a visit to that place of business, it’s called a shake down. If we substitute “New York Attorney General Eric Schneiderman” for mafia boss and “oil/gas company” for business owner, you’d have what’s just happened in New York State–and it’s called “good government.” Schneiderman isn’t personally getting rich from the deal he’s just forced down the throats of two major o&g companies (we don’t think, anyway). But make no mistake–the businesses Schneiderman targets would lose massive amounts of money in lower stock valuations if they don’t agree to Schneiderman’s “offer.” Schneiderman held the gun of his office to the collective heads of Anadarko Petroleum and EOG Resouces over the issue of fracking (something not even happening in NY), and they agreed to dance and sing his tune. They’ve just been shaken down. Here are the details…
