"China’s state-owned oil firm, CNOOC, is giving up on a high-profile shale gas project in Anhui province, conceding that the play “is not suitable for development on a large scale.” The FT reports:
Fascism only takes you so far, I guess.China National Offshore Oil Corp (Cnooc) has decided to shelve its shale gas project in Anhui province in the latest sign that the shale gas revolution that transformed the US energy industry is unlikely to replicate itself in China. […]Cnooc joins larger Chinese firm PetroChina, which has already sharply scaled back on shale project in Sichuan province that it was developing with Royal Dutch Shell. Neither PetroChina nor Shell will publicly define the extent to which that project is on hold."
They bought Nexen in Canada, so you would think they would have enough access to know-how in order to make it work. It does not surprise me. In Canada you get a lot of people that send their children over here to study, most get jobs after finishing their program. From personal experience most are dumb as rocks.
ReplyDeleteI never figured the Chinese were all that smart. Whoever invented the spoon was smart. Eating rice with sticks has never made any sense to me. ha ha ha
ReplyDeleteYeah, eating with sticks is not a sign of genius. I'm just being sarcastic about their reputation as mega smart folk. Not that the Chinese aren't bright, but they aren't quite up to their reputation among us round eyes.
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