American Greed: Scams, Scoundrels and Scandals Season 11 Episode 13 Deadly Black Gold Riches

In the season 11 episode 13 of American Greed: Scams, Scoundrels and Scandals titled Deadly Black Gold Riches, viewers are taken into the world of the oil and gas industry corruption. The episode focuses on the case of former oil and gas company CEO, Aubrey McClendon, who was indicted for violating antitrust laws by rigging bids for oil and gas leases in Oklahoma.

McClendon, also the co-founder of Chesapeake Energy, was known for his aggressive tactics in acquiring land for drilling. He was the face of the American shale revolution, and his company's success made him a billionaire. However, he was also known for his risky business practices, which eventually caught up with him.

The episode delves into the various unethical practices undertaken by McClendon and his team. In order to acquire the most land leases in Oklahoma, McClendon and his team would designate the highest bidder before the auction. The other companies would then submit lower bids, allowing McClendon’s company to acquire the leases at a lower price. This rigging of bids was illegal, and McClendon was eventually caught by the authorities.

The episode also talks about how McClendon would use his personal finances to support his company when it was in a cash crunch. He would borrow using his stakes in Chesapeake Energy and then use the money to buy more land and expand drilling operations. When the prices of oil and gas plummeted, he was left with huge debts that he could not repay. The episode details how his aggressive business tactics eventually led to the downfall of his company and his personal bankruptcy.

The episode also features interviews with key figures involved in the case. Viewers get insights into the intense competition among oil and gas companies, and the pressure to grow at all costs. The episode underscores the importance of ethical business practices and highlights the dangers of cutting corners to gain an edge over competitors.

Overall, Deadly Black Gold Riches is a compelling episode that sheds light on one of the most high-profile cases of corporate greed in recent years. It offers a cautionary tale for businesses and individuals alike, highlighting the devastating consequences of illegal and unethical practices in the world of business.