The Memorial Tournament - Pro-Am

Former Chesapeake Chief Executive Aubrey McClendon just can’t stay away from buying up big tracts of shale-prospective land, a strategy that played a big part in saddling the company with a heavy debt load…apparently one of his new companies is purchasing land in the Utica Shale in Ohio. “McClendon’s playing the same business plan game using a different company name, with Ohio serving as the first pit stop.” []

For more on Aubrey McClendon and his hilariously shady business practices, see Aubrey McClendon Not Done Delighting Us

Charlie Munger talks about energy independence in this piece from The Week: “Why energy independence is a terribly stupid idea”, which begins with the sub-headline, “Foreign oil is your friend!” His argument isn’t totally convincing, but it’s certainly a different take. [The Week]

Japanese and Korean companies have begun shipping oil products via the Northern Route, along Russia’s Arctic Coast. “This marks the first time oil-derived products have been moved in such large volume through what maritime explorers of centuries past dubbed the Northeast Passage.” [Wall Street Journal]