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Published on July 5th, 2012 | by Zachary Shahan

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Bloomberg: Chesapeake Energy Paid Less than 1% Tax Rate on $5.5 Billion in Profits (WTH?)



 
Here’s a stunner that apparently dwarfs most other corporate tax robbery stunners: natural gas and fracking giant Chesapeake Energy is getting away with a huge cut in its tax rate based on a rather out-of-date 1916 tax law for oil and gas companies. Full story via DeSmog Blog:



Desmog Video
Bloomberg Stunner: How Chesapeake Energy Paid Less Than a 1% Tax Rate On $5.5 Billion in Profits
(via Desmogblog)

Chesapeake Energy, a company that is no stranger to financial scandals, has found itself on the front page of the financial papers again. This time, the subject is taxes. Or how Chesapeake barely pays them.   Over its 23-year history, Chesapeake Energy, the second largest producer of natural gas in…


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About the Author

is the director of CleanTechnica, the most popular cleantech-focused website in the world, and Planetsave, a world-leading green and science news site. He has been covering green news of various sorts since 2008, and he has been especially focused on solar energy, electric vehicles, and wind energy for the past four years or so. Aside from his work on CleanTechnica and Planetsave, he's the Network Manager for their parent organization – Important Media – and he's the Owner/Founder of Solar Love, EV Obsession, and Bikocity. To connect with Zach on some of your favorite social networks, go to ZacharyShahan.com and click on the relevant buttons.



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