Sleazy Congressional Democrats Target O&G Stock Buybacks, Dividends

For years (more than a decade) we've heard the left criticize shale companies as a "Ponzi scheme" that's not profitable--drilling new wells to make up for declining production in old wells--all the while bilking investors. People like Ian Urbina of the New York Times tried to paint shale companies as fraudsters, going back more than ten years (see Ian Urbina/NYT Continue Journalistic Malpractice Against the Natural Gas Industry – This Time it’s Fracking). The share price of publicly traded stocks for shale companies fell, in some cases losing more than 90% in value. Now that shale drillers--both oil and natural gas--refuse to drill more so they can clear their debt and return to a more healthy status, the left is not happy again! The left isn't happy when shale finances are bad, and they *really* aren't happy when shale finances are good. The latest sleazeball tactic by the left (i.e. Congressional Democrats) is to hold sham hearings in the D.C. swamp to accuse shale drillers of hoarding money, using it for stock buybacks and dividend payments to investors. Well duh! That's what they're supposed to do!!

---

To view this content, log into your member account. (Not a member? Join Today!)