'Frack Master' Bilked Investors out of Millions
Texas oilman Chris Faulkner built a high-profile public persona, raised millions for his oil and gas ventures and courted politicians. But the SEC has alleged that behind the scenes, he cheated investors out of $80 million to fund a "debauched" jet-setting lifestyle. The U.S. Securities and Exchange Commission on Friday filed a lawsuit that alleges a stunning failure of corporate governance at Faulkner's Dallas-based Breitling Energy Corp (BECC.PK) and other companies he helped to create.
Texas 'Frack Master' Bilked Investors
Texas oilman Chris Faulkner built a high-profile public persona, raised millions for his oil and gas ventures and courted politicians. But the SEC has alleged that behind the scenes, he cheated investors out of $80 million to fund a "debauched" jet-setting lifestyle. The U.S. Securities and Exchange Commission on Friday filed a lawsuit that alleges a stunning failure of corporate governance at Faulkner's Dallas-based Breitling Energy Corp and other companies he helped to create.
Energy Drives Houston's Growth
Hidden in the haze of the petrochemical plants and beyond the seemingly endless traffic jams, a Texas city has grown so large that it is poised to pass Chicago as the third biggest in the United States in the next decade. Houston has been one of the fastest-growing U.S. cities for years, fueled by an energy industry that provided the backbone of the economy, low taxes and prospects of employment that have attracted job seekers.
Obama Alaska Trip Aims for 'Punctuation Mark' on Climate Legacy
President Barack Obama sets off for a three-day tour of Alaska on Monday, aiming to shine a spotlight on how the United States is being affected by warming temperatures and rising oceans. With 16 months left in office, Obama is trying to build support for tough new rules on carbon emissions from power plants ahead of a hoped-for international climate deal later this year that could cement his legacy on the issue. The White House…
France's Oldest Nuclear Plant Shut Down After Incident
France's oldest nuclear power plant, Fessenheim, was shut down on Saturday following an incident at the facility away from the reactor which did not pose any danger, operator EDF said. The accidental closing of a valve controlling the steam supply to the turbine generator automatically shut down Fessenheim's reactor 2. Technicians were working on the issue and a restart date had yet to be determined, an EDF spokeswoman told Reuters.
Greater Collaboration Needed in O&G Industy
Australia’s oil and gas industry must fix its sights on developing greater collaboration as it brings a range of mega projects into operation, according to a group of sector leaders at a DNV GL-hosted briefing and round table event in Perth. The need for oil and companies to become more coordinated was a hot topic at the DNV GL event, which involved more than 30 industry executives talking under Chatham House rule. This assertion…
