Posted on 10/03/2009 8:48:14 AM PDT by SeekAndFind
Almost every mountain releases tons of natural gas that could be creatively diverted into the pipeline stream.
We could do it, we just don't think it's worth it, of course we're wrong.
Great thinking!
HF
The header is a fine example of economic and political illiteracy. The Chinese aren’t locking up reserves at today’s prices. (This would be a lot like saying the majors locked up Saudi oil 60 years ago - which is now being sold at market prices by Aramco, the Saudi national oil company). They are merely committing to spending huge sums of money to explore for oil, after which the host countries will decide at what price they want to sell it. Nothing is locked in. When prices go up, the producing countries will jack their prices up or simply nationalize* the oil fields. When prices go down, China will renege on its commitments. Meanwhile, demand is crashing, due to simultaneous economic contractions in Japan, Europe and the US, which account for 60% of world oil consumption, compared to China’s 10%. Prices will follow crashing demand.
* Ask China what Chavez did to Chinese investments in Venezuela.
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