Posted on 02/23/2021 10:49:30 PM PST by nickcarraway
China is caught up in a very delicate balance. Beijing is being forced to walk a very fine line to keep up with growing energy demand while also shoring up the country’s energy security, and all without compromising the entire world’s ability to decarbonize quickly enough to avoid catastrophic climate change. So far, it looks like Beijing is struggling--if not outright failing--to pull it off. Despite the blow that China received as the first country to struggle with the novel coronavirus pandemic, the country achieved the amazing superlative of being the one and only major economy to achieve even a modicum of growth in 2020. As the country’s already massive industrial sector continues to grow and the middle class rapidly expands, China’s appetite for energy is voracious. While Beijing has made energy security a primary objective, China simply can’t create enough energy to keep up with demand and Beijing remains more dependent on energy imports than ever, a reality that was starkly underlined earlier this year when an unofficial embargo on Australian coal imports caused entire Chinese cities to go dark.
Further complicating the issue, while Beijing has managed to keep their economy going strong, “the speedy comeback also complicates a parallel push by Beijing to reach peak fossil energy consumption in this decade and turn the country into a nation of net-zero emissions less than 40 years later,” Bloomberg reported earlier this month. Although President Xi Jinping has made very ambitious and very public promises to lead his country to carbon neutrality by 2060 and to reach peak CO2 emissions by just 2030, these goals are starkly opposed to the country’s equally ambitious economic targets and energy security goals. At the very same time that Beijing has been busily repeating Paris climate accord talking points out of one side
(Excerpt) Read more at oilprice.com ...
Truesh*t will further sacrifice Alberta to help China out.
Just like any communist, China only talks about climate change to keep its economic opponents restrained.
China will do whatever it wants and nobody will do anything about it.
Energy importers, wink wink...
A shell company in the US that buys up OUR oil reserves, produces it and ships to China.
Death from a thousand cuts is what is happening to America
author is a wumao - paid china shill
Wow.
So much abject stupidity in one passage...and the opening one.
“”A shell company in the US that buys up OUR oil reserves, produces it and ships to China.””
I’d like to know how they pull that off. There’s several China based companies operating in the Permian Basin and their oil and gas produced goes into the same pipelines ours does, headed to the same refineries.
China couldn’t build its own infrastructure or ships to take it directly to China?
Well they would have to run all separate pipelines and gas lines (Good luck with that) to a refinery which they would have to build (Good luck with that). Their best bet is to purchase off the open market and that they have been doing. China’s imports have increased substantially in the last few years.
“...the country achieved the amazing superlative of being the one and only major economy to achieve even a modicum of growth in 2020...”
Boy, talk about a cheerleader. It takes skill to achieve ‘big O’ whilst writing about CCP.
This fawning ‘climate change’ BS has no place on oilprice.com, but it’s no surprise that the propaganda has infiltrated all aspects of industry.
The pertinent paragraph:
“In fact, China is home to massive shale gas resources which may even outnumber the United State’s massive shale play. Despite China’s natural resources and best efforts, however, the country has not been able to get its own shale boom off the ground, and a recent analysis by Reuters shows that what progress Beijing has made toward its own shale revolution could already be obsolete by the middle of this decade. “Complex geology and failure to draw in more investors” are projected to make the industry’s expansion economically untenable.”
With Xio Biden putting his knee on the neck of US fracking the Chinese will hire pros from America with offers of huge money (which often doesn’t pan out as promised) to go over and get their fracking working.
I looked at this article to see what China’s shale boom was, but the paragraph you posted is the only discussion of it in the article and it tells you nothing. And the link to a “recent analysis by Reuters” goes nowhere.
I do not believe that all goes into refineries, but the location of oil storage facilities built along the Texas Gulf coast load ocean tankers destined for China. Same with NG liquefaction that is done outside of CC and Freeport
Unless they can find a feed line that doesn’t go into a refinery (I don’t know of any) then it goes the same way everybody else’s goes. Of course they sell to China but China doesn’t get a better deal simply because some the oil they produced is in there. They buy at market price just like everybody else. The advantage they will have is the profit made from producing oil here in the US, this will go along ways to reduce their shipping costs back to China.
Okay a little lesson on pipelines.
Product is metered at well head.
Product is put into main line and metered again.
Product is transported in line to dividing stations, some goes one way, some goes another by orders.
Product is metered again and point of sale is verified for producer.
Payment cut.
It is simple to have the CCP products separated from US producers
Lets try another lesson, maybe it will help. The product is isn’t metered at the welhead on any wells I operate, it’s metered at their meter and that could be miles away. Once it goes through that meter I get paid. The rest of what you’re saying makes no sense. Once it gets past the first meter it goes into a gathering line that combines many different wells from various companies. Why in the world would I allow my gas to be mixed with others and then graded when I get a premium for mine due to it’s high volume of liquids. What you are saying is a separate line for every operator and that’s simply not the case. We have at least 30 different operators feeding into the same line on just the north end of the ranch, all are metered and graded one time and that’s before we get into the gathering line. I’ve been in this business for close to 50 years and I’ve never seen what you’re suggesting and not really sure how they would pull it off without a line independent from all others.
Even in your comment you say it goes into the main line, once there it’s mixed so there’s no way you’ll get the same grade of gas back that you put in. The only way to do that is at the first meter going into the line. Any gas pulled from that line later would have a different grade than what was put in. We’re talking several dollars diffidence in your MCF price.
As far as oil goes it’s graded at the battery by the driver picking up the load. I get paid by what’s on his ticket.
The growth number failed to include the massive losses to the flooding that destroyed large swaths of the Yangtze river and tributaries flood plain.
The actual losses are incalculable in real terms. The loses can not be accurately measured.
The growth is bogus
No I am not saying a line per well. There is a meter per well BEFORE it goes into gathering line
Yes IF the tanks are at wellhead. Some producers ,meter it and test before going into large stripper and tanks via pipelines
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