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Fracking is Fracked: Chesapeake cuts 15% of workforce

Re-posting this CNN piece (if you don't see it you need to disable ad block) on the recent turmoil in the world of oil.  The interview with the last guy is the best, saying the Saudi's "have only made fracking / domestic production of oil stronger."  The news today of massive 15% workforce layoff from Chesapeake Energy, one of the nations largest energy exploration companies, suggests otherwise.

One thing is clear, US oil producers are getting a fierce lesson in the Golden Rule:  HE WHO HAS THE GOLD MAKES THE RULES.  Right now, OPEC has the Gold: