by Chris White
The former CEO of Chesapeake Energy who was also a major backers of the Sierra Club was indicted by a federal grand jury Tuesday on conspiracy charges to rig oil prices in Oklahoma.
As CEO of Chesapeake Energy, McClendon paid the Sierra Club $25 million to help fund the group’s Beyond Coal campaign, according to a report published by TIME Magazine in 2012. The company’s donations trickled into the Sierra Club’s coffers from 2007 to 2010, a time frame corresponding with the new oil bid allegations leveled against McClendon.
Beyond Coal’s main objective, according to its website, is “to replace dirty coal with clean energy by mobilizing grassroots activists in local communities to advocate for the retirement of old and outdated coal plants.” The campaign also claims it is vital that the U.S. shutter “the nation’s more than 500 coal plants by 2020.”