Displeasure

Shareholders of Chesapeake Energy Corp. voted to reelect three directors at the company’s annual meeting on Friday, but a majority signaled displeasure with the CEO and the board by voting in favor of two corporate governance resolutions.

The Natural Gas Supply Association and Independent PetroleumAssociation of America made their displeasure clear over PresidentBill Clinton’s decision last week to extend a moratorium onoffshore drilling. “Cleaner air and increased use of affordable,clean-burning natural gas depend on access to the large natural gasfields off the nation’s coasts,” said NGSA President Nicholas Bush.”Continuing today’s severe restrictions on offshore natural gasproduction is simply not in the nation’s best interest.”