Pioneering Fracking Company Chesapeake Energy Goes Bust

Despite tax breaks, royalty cuts, and other COVID-related incentives, Chesapeake Energy—a pioneer in the American shale gas (fracking) industry—declared bankruptcy this week. It's the first example of what we expect to be many of the government throwing good money after bad in attempts to use COVID relief funds to shore up companies that were failing long before the pandemic hit.

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