* "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.
China Energy to invest $83.7 billion in West Virginia
http://www.freerepublic.com/focus/f-news/3603263/posts
Appalachia is littered with failed government funded alternate energy / clean coal projects. Universities are a perfect funnel for money from Uncle Sugar Daddy.