General Electric's Jim Cramer Heads to Midwest to Cheerlead for Fracking

CramerToday, CNBC's Mad Money with Jim Cramer's "Invest in America" series will take the show to a seemingly unlikely locale. The crew will head to a place many would consider the middle of nowhere -- the state of North Dakota.

Why North Dakota? Four words: The Bakken Shale Formation.

Referred to as "Kuwait on the Prairie" by The New Yorker in an April 2011 feature story and located predominately in northwest North Dakota, the shale formation possesses a vast amount of both oil and methane ("natural") gas, gathered via the notorious fracking process. Recognizing the economic opportunities that the formation would present to fossil fuel corporations, the U.S. Energy Information Administration penned a report in November 2006 titled "Technology-Based Oil and Natural Gas Plays: Shale Shock! Could There Be Billions in the Bakken?", highlighting them in some depth.

Revealed: Former Goldman Sachs VP Turned Issa Staffer Supervised Scheduling Of Elizabeth Warren Incident (Think Progress)

-- by Lee Fang

The Center for Media and Democracy is re-posting this article from Lee Fang at Think Progress as part of our effort to track right-wing opposition to the Consumer Financial Protection Bureau through our BanksterUSA project. The original can be found here. For context on these new revelations, please read this news story from May 24.

Last week, ThinkProgress revealed that Chairman Rep. Darrell Issa (R-CA) hired Peter Haller, a former Goldman Sachs vice president, as one of his top aides. Haller, who adopted his mother's maiden name in 2008 and had escaped public scrutiny until now, coordinated an Oversight Committee letter to regulators demanding that they justify new Dodd-Frank rules impacting investment banks like his old employer, Goldman Sachs. After publication of our story, the Project on Government Oversight discovered more of Haller's Oversight Committee letters, again on issues directly related to Goldman Sachs.

Plastic Bag Manufacturers Edit California Textbooks

The American Chemistry Council (ACC), a lobbying group representing plastic bag manufacturers, successfully convinced the California Department of Education to rewrite its environmental textbooks and teachers' guides to include positive statements about plastic grocery bags. ACC wrote a letter to education department officials that said in part, "To counteract what is perceived as an exclusively negative positioning of plastic bag issues, we recommend adding a section here entitled 'Benefits of Plastic Shopping Bags.'" The state's final document was, in fact, edited to contain a new section titled "Advantages of Plastic Shopping Bags."

No

Pages

Subscribe to PR Watch RSS