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China practically dominates the energy news of the day. The long-term effects will be far wider than the stories now fixating the American public. Last month the big news coming out of China’s Oil Patch was Beijing’s startling, if not long overdue, corruption allegations against one of its state-owned oil majors, CNPC, with corresponding executive resignations, and potential fall-out for more of the same.
China is still pressing ahead with its shale gas ambitions though numerous hurdles continue to hinder those goals. Shale gas is supposed to boost the nation’s natural gas supply which is in dire need. China today draws about 4 percent of its energy needs from natural gas and more than 70 percent from coal. The coal figure is one that the West has not experienced since the nineteenth century.
British Columbia Premier Christy Clark landed in Washington D.C. on Friday to promote Canadian liquefied natural gas. And Japan’s Prime Minister Shinzo Abe two weeks prior made his first official visit to Canada to work on building a long-term energy relationship between the two countries.
The question of whether natural gas is a ‘clean’ fuel is hotly debated amongst food columnists and the current U.S. Secretary of Energy alike. The debate has been fueled by scientific uncertainty; measuring methane emissions has been difficult because data is hard to obtain.
CNPC (along with its publically listed subsidiary PetroChina) and Sinopec have seen better days. The two Chinese oil majors have been humbled in recent weeks as the former is being subjected to Beijing’s tightening anti-graft noose and the latter just lost a billion dollar international court case. Only CNOOC for the moment, China’s third state owned oil major, remains unscathed. The Big Three, which have combined yearly revenue of nearly $1 trillion, all have cause for concern.
Commentary: Oil production in North Dakota keeps gaining, but increased flaring threatens regulatory action
In what is surely one of the biggest stories in the US oil and gas industry over the past 30 years, oil production in North Dakota keeps gaining, reaching new highs along the way. In fact, production in July hit a new record as oil companies brought more wells online once summer rains stopped, the state regulator said on Friday.
This week that the Department of Energy (DOE) tentatively approved a fourth non-FTA permit to export liquefied natural gas (LNG). Secretary Moniz is credited with improving the speed with which his Department has moved on exports, having approved three permits in his short tenure compared to one under his predecessor.
For 125 years, National Geographic has enjoyed a reputation as a scientific and educational organization. It is so trusted that if a topic is covered within the pages of National Geographic, it has been accepted without question. Most of us grew up reading it in the classroom, and later, in the doctor’s office.
Commentary: United States and China oil consumption and imports — A tale of two very different countries
For more than a decade China has been making headlines in energy news, always at the superlative degree and always as the emerging superpower comparable to the US, the reigning super power. Despite US involvement in two wars and reducing dependence on foreign oil imports thanks to a domestic renaissance of its oil and gas industry, it is the impact of China that is prominent on the world news stage.
As global demand for energy increases, competition over oil and gas exports has intensified. This is how The Wall Street Journal portrays the situation in a recently published piece, “U.S. and Canada Vie for Big Gas Projects.” The article specifically notes competition from our northern neighbors on Liquefied Natural Gas and the race to build export terminals in North America for transport to Asia.