Skip to comments.REMINDER: America Is Not The Biggest Winner In The Shale Gas Revolution
Posted on 03/27/2012 7:12:57 AM PDT by SeekAndFind
Americans are thrilled that the shale gas revolution could make their country the world's top energy producer by 2013. But in the long term there's another country that benefits even more.
China has 25.05 trillion cubic meters of recoverable shale gas resources, compared to only 12-13 trillion cubic meters in the US.
Barclays' Scott Darling says China could follow the US model in developing its resources:
China continues to outline its non-conventional gas targets. The government has the set 6.5bcm/year by 2015 and 60-100bcm/year for shale gas production by the end of the decade. Although we believe that these targets may seem ambitious, the pace of progress in acquiring non-conventional asset for technology/process knowledge and domestic developments is starting to gather pace. China is committed to supporting development with numerous overseas joint ventures (JVs) and acquisitions for exploratory technology and production experience...
We have previously highlighted the challenges facing China’s non-conventional gas development, namely export pipeline availability to demand centres and water availability. However, while these factors are important, we believe the key issues in determining the pace of shale gas developments in China relate to development economics, application of technology and project management rather than geology and resource quality. For most of the shale gas deposits in China, the technology is in place (ie the US and most parts of China are based on the same type of marine shales).
(Excerpt) Read more at businessinsider.com ...
Well, good. The less pressure China puts on world energy sources the better. It’s also another way to marginalize the political importance of the Arab states.
Exactly. Economics is not a zero-sum game.
And, China has more than double the population of the US, leaving the per-capita amount much lower.
The important thing regarding the U.S. share, and exploitation of the U.S. share of shale gas reserves, is not who has more than us but what our share can do for our own domestic energy requirements along with the enhanced energy and economic security with becoming less reliant on foreign energy sources.
On percapita basis, I would imagine our share is greater than China’s, however, as I said above, even that is not the main point.
That's an important point -- its population, hard as it is to believe, is more than four times ours. Which is why, even when, some day, their GDP equals ours, they will still only be 1/4 as rich.
And, China has more than double the population of the US, leaving the per-capita amount much lower.Yeah, but I bet the number of people in China that own or have access to automobiles is still a tiny fraction of the US.
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