Could the Marcellus boom be going bust in PA? We can start to hope!

[JPZenger]

1. Fracking Profits All Go to Texas

The fracking profits go back to Texas, which is now the nationwide leader in job creation by far. Many Texans came to PA. to grab the best jobs, and then went back when the drilling boom slowed.

Chesapeake is under severe financial strain because of the high risk strategy of their all powerful CEO, before he was canned. Chesapeake has been selling energy assets at bargain basement prices to the Chinese to reduce their overwhelming debt.

Meanwhile , Dominion Resources is spending billions on a liquified natural gas shipping facility along the Chesapeake Bay. Once that facility and multiple new pipelines are completed, it may lead to another drilling boom, so we can send the gas to Asia. So much for energy independence.