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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (74186)	5/13/2011 10:41:36 PM
From: Snowshoe	Read Replies (1) \| Respond to of 217774

Team USA is helping China with energy independence, via shale gas technology (as authorized by someone I'm not supposed to mention here)... :0) China set to unearth shale power business.financialpost.com The U.S. Energy Information Agency in a report last month estimates China holds 36.1 trillion cubic metres (1,275 trillion cubic feet) of technically recoverable shale gas reserves — significantly higher than the 24.4 tcm (862 trillion cubic feet) in the United States, which has the second-most.... XXXXX'S VISIT The shale rush only really began in China when President Xxxxxx Xxxxx signed a cooperation pact on shale gas in November 2009 during a state visit to Beijing, just weeks before the Copenhagen climate talks. Washington thought that if China could increase gas usage at the expense of dirty coal, it would reduce the carbon footprint of the world’s biggest greenhouse gas polluter. U.S. firms had hoped the pact would help them leverage their technology to gain rare access to China’s tightly controlled oil and gas reserves. China may have hoped to acquire some of that technology to help develop its fledgling shale industry. Neither has materialised to any great extent so far. But the pact has undoubtedly helped smooth out any political objections to acquisitions by cash-rich Chinese energy giants of stakes in North American shale assets. In a flurry of recent deals, they have effectively purchased the technology and expertise they lack back home. China’s third-largest oil and gas firm CNOOC struck two deals with leading U.S. shale gas player Chesapeake over the last several months, giving it access to drilling leases in Texas, Wyoming and Colorado. The deals marked CNOOC’s triumphant entry into the United States after its 2005 bid for Unocal Corp was killed by strident political opposition over the involvement of Chinese state companies in the U.S. energy sector. Chevron later acquired the U.S. oil firm instead. “Chesapeake has accumulated abundant experience in drilling and completion in various U.S. shale plays,” CNOOC said in a statement e-mailed to Reuters. “The techniques and experiences we learn from the U.S. shale projects will benefit our potential participation in other areas in the future.”