He was one of six people who underwent the shale revolution. He was one of the founding voices. He lobbied and washington, breaking away from the oil lobby. Scarlet chronicle for us his rise and fall. Man, acquiringd the rights to drill on a property and tries to sell them for a profit. With is to pay chesapeake, he amassed 15 million acres. 13, it wasces were a great plan. Under have now fallen to two dollars. Alix charif souki new Aubrey Mcclendon personally, and aubrey of the peopleone who convinced him to go into the natural gas business. He was a good friend. Like me, he had a high tolerance for risk. We did many things that were complementary for years. He was one of the first people who gave me the idea of exporting liquid natural gas from the United States. Scarlet i know you were talking with the Oklahoma State police captain. Do we have more insight on what happened . Driving, car was veered off the road, and crash. I was interested to see if there were skidmarks on the road.
Kate . I would agree, brian. Whatever you think about his love of leverage on a personal front and on the corporate, or his alleged legal transgressions, and clearly some of the stuff has not been proven, he was a visionnary. He started chesapeake with tom ware basically from scratch. They had an amount of money in the tens of thousands. It was not a lot of money. He was known for having an eye for drill sites, right . For drying or leasing land that was going to prove valuable, and he built the company into an impressive place. I visited with him there in 2010, and sat down for like an hour. He was employing thousands of people, bringing business to Oklahoma City. He had several restaurants. I know, michelle youve been to one or more of them, right . Right. He had bought a big plot of land decided there was an old gasoline situation, an eyesore on route 66. As part of redeveloping route 66, he was going to put in the nicest gas station with the greatest selection of American Soda pop,
As we first reported on power lunch yesterday, the engineer pioneer died in a car crash in oklahoma yesterday, less than 24 hours after he was indicted on charges of conspireing to rig the price of oil and gas leases. Reuters now reporting the private equity fund emg halted new deals with mcclendon just before his death. Bethany mcclean is a contributing editor at vanity fair and cnbc contributor. We knew aubrey was scheduled to be in court later on that day. And now this. What have you found . Well, this is clearly a guy who was under siege from a lot of quarters and im connecting multiple dots, but you have obviously the indictment by the u. S. Government, and having the weight of the u. S. Government brute force come down on you is not an easy thing to live with. Thats been an investigation ongoing for the last four years. He was clearly starting to have a lot of trouble raising money and keeping his empire together. He tried to raise 2 billion in an ipo for American Energy partners
Was down slightly. The shanghai composite was up slightly. Also take a look at oil prices. Wti up slightly. 34. 72. A little later this morning, were going to watch for natural gas Inventory Data due out at 10 30 eastern time. Gas prices are trading around the lowest levels in 17 years. Couple big stories were watching this morning. Just hours after the u. N. Security council slapped new sanctions on north korea, south korea is now accusing the north of a new provocation. South Koreas Defense Ministry saying north korea fired several shortrange projectiles into the sea. The sanctions on pyongyang are the toughest in 20 years and came in reaction to the norths recent Nuclear Tests and longrange rocket launch. Its also a very busy day for economics. A lot to talk about. Jobless claims out at 8 30 a. M. Eastern time. Thats expected to hold steady around 270,000. Also at 8 30, were going to get Fourth Quarter productivity, which is expected to be revised slightly lower with forecasts for a
9. 9 , were not celebrating mediocrity here, but the markets like the point. And a shocker, donald trump a lead. 36 , and that poll was taken before the california attack and before donald trump said this. You just like me because my daughter happens to be jewish. The only bad news, i cant get her on saturday, i call and call, i cant speak to my daughter anymore on saturday. First thing we do this friday morning, check the futures because we have that jobs report about 31 minutes ago. Im going to call it mode mediocre, the belief is that j el will raise Interest Rates and well see in 28 minutes time. How about the price of oil, look at this. Opec is considering a Production Cut at its meeting later on today. We are, indeed, swimming in the stuff, but theres no agreement on cutting production, at least not as of now and the price of oil is all the way down to 40. 32. Now, more details are emerging from the terror in california. Overwhelming evidence shows they prepared for it. Jeff floc