On Oct. 27, the New York Times repored that Chesapeake Energy, which holds 5,000 acres of land in upstate New York’s watershed under lease for gas drilling, had decided it would not drill on the property. The drilling plan had come under withering scrutiny from environmentalists who feared there could be damage to the watershed, which provides water for more than nine million people in New York City and surrounding counties.
The Times quoted Aubrey K McClendon, Chesapeake’s CEO as saying“We are not going to develop those leases, and we are not taking any more leases, and I don’t think anybody else in the industry would dare to acquire leases in the New York City watershed.”
While McClendon insisted the drilling could have been done without damaging the region, he was also quoted as saying: “How could any one well be so profitable that it would be worth damaging the New York City water system?”
