[DIRTYSECRET]

Is it or is it not good?

[rrrod]

Plus the floating LNG plant......winning bigly!

[DAVEY CROCKETT]

83 billion dollars of winning

[SomeCallMeTim]

WOW!

I wonder whether any of it will ever come to fruition? It’s easy to get Chinese to sign LOI’s... Harder to get them to sign checks!

[PA Engineer]

People need to learn how big shale energy is. With the draining of middle eastern money from the democrat green groups, shale development will expand greatly.

We are going to need expanded energy production with the onset of the solar minimum. Those that block pipeline development will suffer severely.

The Chinese know what is coming. They have learned from history and do not want to repeat another dynasty collapse.

[Paulie]

Article says this is the culmination of years of planning and relationship building between WVA and China.

I wonder how many years. Did they start looking to China Energy because 0bama vowed to destroy the coal industry?

Hope the coal miners don’t get cheated out of the jobs they deserve.

[Alberta's Child]

This is what happens when the U.S. runs an enormous trade deficit with a foreign country.

The Chinese can't eat U.S. dollars, folks. The money has to come back here eventually.

[vpintheak]

It really ticks me off that commies and ruskies are buying up American energy. Why do our energy companies either not have the balls or fortitude to do this? Why does it take foreign nations to use up our energy?
It is pathetic. I am happy that there will be jobs and work, but there is no free lunch. There will be a lot of unintended consequences.

[ProtectOurFreedom]

Based on this thin article, it is difficult to pin down exactly what is going on here.
* “The University of West Virginia (WVU) entered into a memorandum of understanding with China Energy in 2016, and details of the larger memorandum of understanding with the state were hammered out over the past few months.” A UNIVERSITY?? It seems rather unusual for a University to be negotiating with foreign governments for access to a state’s energy resources. The WVU has long taken huge sums from the federal Dept. of Energy for “energy research” and has delivered little or nothing for that “investment.” This is purely a legacy of Senator Byrd as a payoff to WV coal miners. Look at the National Energy Technology Laboratory in Morgantown, WV for starters.

* Then the article goes on “The announcement of the investment between China Energy Investment Corporation and the West Virginia Department of Commerce presents huge economic opportunities for West Virginia and our region,” said Marc Monteleone, president of the Independent Oil and Gas Association of West Virginia. Now it’s an investment between China Energy and the state Department of Commerce?

*” Some have cautioned that the memorandum of understanding is not a binding agreement, and that the Chinese might not follow through with all the components of the deal.” No kidding!

* “I’m very optimistic that we’re going to get this across the finish line with this announcement. The agreement was signed before the president of the United States and the Chinese president.” Anderson conceded that not all the promises made in the agreement may make it to fruition. The Chinese are not the most trustworthy partners in ventures like this. I’ve done a lot of business with the Chinese and getting paid is always a challenge — they pay extremely late, often pay a fraction of what they owe, and sometimes never pay at all.

* Anderson also believes the agreement will eventually lead to an ethane cracker being built in the Mountain State. So it’s gone from an $83 BILLION investment to a single ethane cracker that might cost $500 million? That’s a huge gap.

CONCLUSION: This article is written like a typical breathless University press release about some new invention by their researchers that’s going to change the world. It is really devoid of any specifics. I do not put much stock in WV energy nor the ability of a university to negotiate such a business deal. Not much to get excited about yet.