Dirty Money Season 1 Episode 1 Full Steam Ahead

Dirty Money is a Netflix original series that explores various corruption stories and scams that have taken place in different parts of the world. The first episode of the show, Full Steam Ahead, takes a closer look at the world of power and influence in the energy sector.

The episode opens with a shot of a massive shipyard in Korea where a new type of cargo ship is being built. We see the CEO of the South Korean company, Daewoo Shipbuilding and Marine Engineering (DSME), praising the innovative design of the ship, which he claims will revolutionize the shipping industry. The ship in question is a liquified natural gas (LNG) carrier, which is capable of transporting large amounts of LNG at very low temperatures.

The episode then takes us back in time to the early 2000s when the energy market was booming, and the price of oil was at an all-time high. The US was dependent on oil imports, and the government was looking for ways to reduce its dependence on foreign oil and promote domestic production. One solution to this problem was to create a new market for natural gas. Natural gas was abundant in the US, and the government saw it as an opportunity to create a new industry and generate jobs.

This is where energy magnate Aubrey McClendon comes into the picture. McClendon was the CEO of Chesapeake Energy, one of the largest natural gas producers in the US. He was a charismatic figure who was known for his aggressive approach to business and his love for risk-taking. He saw the potential of LNG as a new export commodity for the US and wanted to build the first LNG export terminal on the Gulf coast. He partnered with DSME to build the first LNG carriers to transport natural gas from the US to other countries.

The episode then delves into the murky world of lobbying and politics. McClendon knew that he needed the government's support to make his LNG dream a reality. He hired lobbyists and convinced government officials that LNG was the future of energy. He promised them that LNG would create jobs, reduce the trade deficit, and make the US energy independent. He claimed that the US had enough natural gas to last for decades and that exporting it was a win-win situation for everyone.

However, not everyone was convinced. Environmentalists were concerned about the environmental impact of fracking, the method used to extract natural gas from the ground. They argued that fracking contaminated groundwater and caused earthquakes. They also questioned the safety of LNG carriers and warned that an accident could have catastrophic consequences. The episode shows how the public debate over LNG became increasingly polarized, with both sides resorting to fear-mongering and misinformation.

Despite the opposition, McClendon and DSME pushed ahead with their plan. They built a massive LNG export terminal in Louisiana and ordered a fleet of 400 LNG carriers from DSME. The episode shows how the construction of the terminal and the ships was plagued with delays and cost overruns. It also highlights the shoddy construction practices and the poor working conditions at the shipyard in Korea. Workers were forced to work long hours in dangerous conditions for low pay.

The episode then takes a dramatic turn as we learn about the downfall of Aubrey McClendon. In 2016, McClendon was indicted on charges of conspiring to rig bids for oil and gas leases. He was accused of colluding with other companies to keep the prices artificially low and pocketing millions of dollars in profits. Just a day after his indictment, McClendon died in a car accident. Initially, it was believed to be a suicide, but later, it was revealed that he was driving at high speed and crashed into a wall.

The episode ends on a somber note, as it shows the aftermath of McClendon's death and the legacy of his LNG dream. The terminal and the ships were still in operation, but the LNG market had crashed, and the industry was facing an uncertain future. The episode leaves us with a sense of disillusionment and a warning about the dangers of greed and ambition.

In conclusion, Full Steam Ahead is a riveting and thought-provoking episode that exposes the dark side of the energy industry. It shows how big business and politics can manipulate the public discourse and prioritize profit over safety and sustainability. It is a cautionary tale that reminds us of the need for transparency, accountability, and ethical leadership in the energy sector.