14 February 2012

China's Huge Shale Gas Deposits Promise Global Revolution

China cannot afford the "energy starvation affectation" which certain foppish leaders of western nations are displaying. No, China is in a life or death struggle for its survival as a nation. The leaders of the middle kingdom cannot afford to fool themselves in that way. They must face reality and shape it to their advantage, or they will become history.
GWPF

The Ministry of Land and Resources said Sunday that China will strengthen the survey and appraisal of shale gas in 2012 to expedite discovery and development of China shale deposits. The move comes after the recent approval of the State Council in the capital to list shale gas as an independent mineral resource. China is slowly moving towards producing shale gas.

Currently, the country does not have any shale natural gas production, adding to the country’s overall lack of natural gas in its energy matrix. China’s rough terrain and lack of technological know-how has kept it out of the shale gas biz. The country is largely beholden to coal to keep the lights on.

China’s Ministry of Land estimates the country holds around 31 trillion cubic meters of natural gas hidden under shale, equivalent to the total amount of conventional natural gas. If developed, the country’s shale gas output could exceed 100 billion cubic meters by 2020, Land Ministry’s second in command, Wang Min, told reporters during a national geological survey conference in Beijing this weekend.

China’s reserves are almost 50% greater than those of the U.S., according to the U.S. Energy Information Administration. _GWPF
Once this massive shale gas resource hits China's economy -- particularly when transformed by GTL, ethane cracking, and other advanced technologies into far more valuable materials -- the global commodities markets will be shaken to their foundations.

Cross-posted from Al Fin Energy

It doesn't take a crystal ball to understand why Mr. Putin of Russia would find this development somewhat disconcerting. Others who will not welcome this news include Mr. Chavez of Venezuela, the mad mullahs of Iran, Persian Gulf gas magnates, suppliers of other hydrocarbons to China (including coal), and the big global green influence machine of faux environmentalism.

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2 Comments:

Blogger Matt M said...

They will be drilling for oil off the coast of Florida under the Cuban flag.

I just hope I am around to see the environmentalists heads explode!

Tuesday, 14 February, 2012  
Blogger al fin said...

You mean the environmentalists who all wear those Che T-shirts?

Wednesday, 15 February, 2012  

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“During times of universal deceit, telling the truth becomes a revolutionary act” _George Orwell

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