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Hydroelectricity: Definition from Answers.com - 0 views

www.answers.com/...hydroelectricity

hydro electric power economic

shared by Yadkin River on 15 Dec 11 - Cached
  • Barnes, Marla. "Tracking the Pioneers of Hydroelectricity." Hydro Review 16 (1997): 46.Federal Energy Regulatory Commission. Hydroelectric Power Resources of the United States: Developed and Undeveloped. Washington, 1 January 1992.———. Report on Hydroelectric Licensing Policies, Procedures, and Regulations: Comprehensive Review and Recommendations Pursuant to Section 603 of the Energy Act of 2000. Washington, May 2001.Foundation for Water and Energy Education. Following Nature's Current: Hydroelectric Power in the Northwest. Salem, Oregon, 1999.Idaho National Engineering Laboratory and United States Department of Energy—Idaho Operations Office. Hydroelectric Power Industry Economic Benefit Assessment. DOE/ID-10565.Idaho Falls, November 1996.———. Hydropower Resources at Risk: The Status of Hydropower Regulation and Development 1997. DOE/ID-10603.Idaho Falls, September 1997.United States Department of Energy, Energy Information Administration. Annual Energy Review 2000. DOE/EIA-0384 (2000).Washington, August 2001.United States Department of Energy—Idaho Operations Office. Hydropower: Partnership with the Environment. 01-GA50627. Idaho Falls, June 2001.
Yadkin River

The big questions for 2012 - FT.com - 0 views

www.ft.com/...16-11e1-b7ec-00144feabdc0.html

2012 outlook -

shared by Yadkin River on 04 Jan 12 - No Cached
  • With America gazing inward, some will look to China for money and leadership. This began visibly to happen in 2011, when European officials ended an EU summit by jetting straight off to Beijing, in a humiliatingly unsuccessful effort to drum up Chinese interest in buying more European debt.
  • But the leadership of China’s Communist party will also spend much of the year jostling for position. While the identities of the new president and prime minister are widely assumed to be known – with Xi Jinping and Li Keqiang slated respectively for those positions – the slots just below the top two are up for grabs. China’s urge to concentrate on domestic affairs will be accentuated by a growing nervousness about political and economic instability at home.
  • and growing social unrest in China’s manufacturing heartlands
  • ...17 more annotations...
  • But it will also ensure China has little energy to devote to elaborate international co-operation.
  • Economic inequality: Peaceful acceptance of deep differentials is coming to an end
  • The big debate of 2012 will be over the role of government in the economy,
  • Public v private: The state starts to run out of time on how big it should be
  • Although this sounds like an economic issue, it is really about politics.
  • Headlines such as this recent one in the Los Angeles Times – “Six Walmart heirs are wealthier than US’ entire bottom 30 per cent” – epitomise the new mood. Such scrutiny of the lives and deeds of the “1 per cent” will become obsessive.
  • Yet there is compelling evidence that high inequality is also bad for a nation’s health: it leads to higher political instability and more violence and it hurts competitiveness and growth.
  • Social unrest: Technology to power rolling disruption to outright revolution
  • In Russia, shame among educated classes that Vladimir Putin is just the latest tsar, combined with growing economic desperation and corruption in rural areas, makes another Russian Revolution plausible if not probable. And I would not be surprised to see mass protests in several central Asian countries, in Pakistan, again in Iran, in Algeria, Mexico, Venezuela or Cuba.
  • The difference from traditional technology is speed, scale and resilience. The immediacy, apparent veracity and emotional power of words and images that are instantly transmitted to thousands and then millions of people can transform existing currents of dissent into a raging flood
  • This year, elections will take place in the US, France, Russia, Taiwan, Mexico, Egypt and South Korea. China will also change leadership.
  • Energy: Fuel’s decisive shift in supply will boost security – at a price
  • Energy efficiency in the advanced countries has risen sharply, implying that their demand has peaked, and vast, commercially exploitable discoveries of oil and gas – especially gas – have been made in politically stable areas, including in the US. This suggests that in future gas will account for a much larger proportion of world energy supply. While these developments are positive for geopolitical stability, they may pose difficulties for the climate.
  • This is positive because gas is much cleaner than coal.
  • This means it will reclaim its role as the world’s biggest energy producer and, incredibly, become a net energy exporter.
  • Even in 2040, respected forecasts now envision that fossil fuels will still supply 80 per cent of the world’s energy needs.
  • However, energy security and national security for much of the world will be improved, as the influence of rogue oil states diminishes.
Yadkin River

The Jamestown Foundation: China Makes Strides in Energy "Go-out" Strategy - 0 views

www.jamestown.org/...single

china goabroad GOINGOUT yadkin Alcoa

shared by Yadkin River on 19 Dec 11 - No Cached
  • Yet this new strategy is taking the shape of a formula of “loans-for-energy,” which involves a mix of state-owned and private actors.
  • hese complex arrangements indicate that China’s expansion of overseas-energy assets is a long term goal and that it is increasingly interested in securing Chinese outward investments from its international partners.
  • Put more of China’s $2 trillion foreign reserves into hard assets -- Zhang Guobao, vice minister of the National Development and Reform Commission and head of the NEA, had pointed out in a signed article published in December 2008 in the People’s Daily (a strong indication of being authoritative statements of government policy) that China should seize the timing of the oil price slump on the  international market to increase imports and Chinese enterprises are encouraged by the government to expand overseas (China Daily, March 9).
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  • his model is more in line with the Chinese government’s preference for financing acquisitions, since it gives Chinese NOCs direct ownership of resources. In contrast to the other three deals, Chinese NOCs could only extend loans to foreign NOCs for guaranteed oil supplies or possible special access to future exploration projects.
  • China’s new venture with Kazakhstan deviates from the “oil-for-loans” formula. The $5 billion loan from CNPC will give Chinese oil firms a 50 percent stake in the joint purchase of MangistauMunaiGaz (MMG), Kazakhstan’s biggest private oil and gas company (Reuters, April 17). This deal is more like a “loan-for-oil assets” transaction than one of “loan-for-promised-oil supply," which characterizes the previous three contracts, and CNPC will receive half of the oil that will be produced by the jointly owned MMG (the other 50 percent will be owned by the Kazak state-owned firm KazMunaiGas).
  • he global economic crisis has presented China with a rare opportunity to trade its abundant foreign currency reserves for oil, mineral and other resources around the world. China now has roughly $2 trillion in foreign exchange, ranking number one in the world, and many state firms are also flush with funds (The Associated Press, February 18). Beijing is considering setting up an oil stabilization fund to support purchases of overseas resources by Chinese oil companies. The plan was submitted at NEA’s National Work Conference on Energy held in March 2009 (Xinhua News Agency, March 2).
  • The recent large energy activities are not the first time Chinese NOCs have entered “loans-for-oil” deals. In 2004, Chinese banks financed Rosneft’s acquisition of Yuganskneftegaz with a $6 billion loan and CNPC received a pledge of long-term supply contracts via rail in exchange (Platts Community News, February 19)
  • These “loans-for-oil” activities will remain an active component of the Chinese overseas resource acquisition strategy given the current global economic and energy conditions.
Yadkin River

The Future Of Energy - YouTube - 0 views

www.youtube.com/watch

energy

shared by Yadkin River on 22 Dec 11 - No Cached
  • Yadkin River on 22 Dec 11
     
    The Future of Energy
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Renewable Energy, Hydroelectric Power - 0 views

www.altenergy.org/...hydroelectric.html

hydro electric power economic development

shared by Yadkin River on 14 Dec 11 - Cached
  • Relicensing is a complex process in which private dams are re-evaluated every 30 to 50 years. The Federal Energy Regulatory Committee "considers anew whether it is appropriate to commit the public's river resources for private power generation FERC is now required, when deciding whether to issue a license, to consider not only the power generation potential of a river, but also to give equal consideration to energy conservation, protection of fish and wildlife, protection of recreational opportunities, and preservation of other aspects of environmental quality." Relicensing was infrequent until 1993, when hundreds of licenses began to expire. "The Hydropower Reform Coalition formed in 1992 to take advantage of this once-in-a-lifetime opportunity to restore river ecosystems through the relicensing process." To the Coalition's dismay, a new bill is being considered called the Hydroelectric Licensing Process Improvement Act, which if passed, "would limit the abilities of federal agencies to protect natural resources," making relicensing easier for dam operators.
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Whose wallets will the Duke-Progress merger hit? - Economy - NewsObserver.com - 0 views

www.newsobserver.com/...ts-will-the-duke-progress.html

Duke Progress Energy Merger

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  • Yadkin River on 18 Dec 11
     
    Duke Progress Energy Merger
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Alcoa, CPI Announce Letter Of Intent To Develop Joint Venture Producing High End Alumin... - 0 views

www.thestreet.com/...igh-end-aluminum-products.html

CHINA joint venture chinese ALCOA YADKIN aluminum

shared by Yadkin River on 20 Dec 11 - No Cached
  • CPI President Lu Qizhou added, “I am excited to see our partnership taking a further step. Deeper cooperation in high-end aluminum fabrication will definitely broaden the space for both companies' development and accelerate our
  • common endeavor to move forward.”
  • About CPI China Power Investment Corporation (CPI) is one of the five Gencos in China and a comprehensive energy group integrating industries of power, coal, aluminum, railway and port. It is the only enterprise in China possessing assets in hydropower, thermal power, nuclear power and new energies at the same time, and is one of the three companies in China that are authorized to develop, build and operate nuclear power plants. By the end of 2010, CPI had installed capacity of 70.72GW, of which 17.74GW was hydropower, which ranked first among the five Gencos. Clean energy accounted for 30% of the total portfolio, the highest among the five Gencos. Meanwhile, CPI had coal production capacity of 72.75 million tons and aluminum production capacity of 2.08 million tons.
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Alcoa, China Power Agree to Work on $7.5 Billion of Clean Energy Projects- Bloomberg - 0 views

mobile.bloomberg.com/...nt-with-china-power-investment

ALCOA chinese armory ms Correnti CleanTech Commissioners hydro YADKIN CHINA

shared by Yadkin River on 20 Dec 11 - No Cached
  • The companies may also look at opportunities to collaborate outside China
    • Yadkin River
      Yadkin River on 20 Dec 11
       
      Outside of China - Like in NC?
  • China, the world’s largest polluter, wants non-fossil fuels to contribute 15 percent of its energy needs by 2020. The nation’s incentives to encourage low-carbon generation such as solar and wind power are almost triple those in the U.S., according to a report by the Climate Institute
  • “It’s very difficult for China to buy state of the art technology from the U.S., as there are many restrictions, but clean energy is an area where both U.S. and China love to cooperate,” said Owen Liang, a Shenzhen-based analyst with Guotai Junan Securities Co. “The question is why Alcoa?
  • ...1 more annotation...
  • Alcoa
Yadkin River

Press Releases * Calisolar - 0 views

www.calisolar.com/...expand_production.php

Calisolar Correnti LowndesCO Mississippi

shared by Yadkin River on 31 Dec 11 - No Cached
  • Its investors include Advanced Technology Ventures, Globespan Capital Partners, Good Energies, Hudson Clean Energy Partners, and Ventures West.
  • We are grateful to Governor Barbour, the Mississippi State Legislature, the Mississippi Development Authority, and Lowndes County
  • Calisolar was awarded a clean energy manufacturing tax credit as part of the American Recovery and Reinvestment Act
  • ...6 more annotations...
  • SMS Siemag
  • supplying the majority of the equipment to be installed at the Mississippi facility
  • San Antonio, Texas-based Zachry Holdings, Inc
  • engineering and building the facility
  • upport from the Tennessee Valley Authority
  • Lowndes County Development Authority
Yadkin River

China's Quest for Energy - YouTube - 1 views

www.youtube.com/watch

chinese

shared by Yadkin River on 23 Dec 11 - No Cached
  • Fuelling China: Daniel Yergin joins a panel of Canadian economists and observers to discuss China's growing need for energy. What does this growth means for Canada? What are the political implications of China re-shaping their energy sector?
Yadkin River

When Foreign Countries Want to Buy into U.S. Nuclear Power Plants - What Then... - 0 views

public-blog.nrc-gateway.gov/...wer-plants-%E2%80%93-what-then

ALCOA infrastructure CHINA hydro YADKIN chinese NationalSecurity

shared by Yadkin River on 21 Dec 11 - No Cached
  • For example, U.S. national policy makers have worked to make sure sensitive military and defense technology and production remain with American companies.
  • After 9/11, concerns grew that foreign ownership of U.S. infrastructure could increase our vulnerability to terrorist attacks. One example is the heated debate triggered by the 2006 purchase of a company that ran U.S. ports by the United Arab Emirates-owned company Dubai Ports World. (Dubai Ports eventually sold its interests to a U.S. company.) More recently, globalization of the nuclear industry and the weak U.S. economy have attracted significant levels of foreign investment in the U.S. nuclear industry
  • The Atomic Energy Act prohibits the NRC from issuing a license to any entity that the Commission believes is “owned, controlled or dominated by an alien, a foreign corporation or foreign government.” Broadly speaking, the foreign ownership prohibition protects the “common defense and security” of the United States, even though this may prevent some nations from participating in U.S. nuclear joint ventures.
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  • mitigate foreign control issues
  • Len Skoblar March 1, 2011 at 6:53 am Actually, I think the time has come to end this dance. Energy is a strategic commodity…period. Our country’s very survival depends upon it. So let us dispense with the distraction (and risk) that “foreign investment” brings to the dance. The US government should subsidize indigenous energy production in all its manifestations and forms to eliminate the need for foreign investment. That would be tax dollars well spent. And NRC could then bring even more focus and resources to its primary mission….nuclear safety.
Yadkin River

Whose water is it anyway!? - 0 views

www.yesweekly.com/...whose-water-is-it-anyway_.html

water Alcoa Yadkin Commissioners Governor Legislators

shared by Yadkin River on 06 Dec 11 - No Cached
  • COALITION OF CITIZENS, POLITICIANS AND ENVIRONMENTALISTS BATTLE ALCOA TO RETURN THE YADKIN RIVER TO THE PEOPLE
  • “The conservation of our natural resources and their proper use constitute the fundamental problem which underlies almost every other problem of our national life,” Roosevelt told Congress in 1907.
  • Naujoks referred to Teddy Roosevelt’s well known opposition to corporate monopolies and his firm belief the nation’s natural resources belong to the people. Naujoks cited Roosevelt’s philosophy to highlight the disparity between the legendary president’s philosophy and FERC’s policies
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  • Gov. Beverly Perdue officially came on board with the Yadkin River Coalition — a group of local businessmen, citizens and politicians who oppose Alcoa’s re-licensing efforts — last September and her influence has proved invaluable to the cause.
  • The governor’s office filed papers with the FERC “seeking return of the right to plan the use of the Yadkin River flows and the Yadkin hydroelectric project for the benefit of the people of North Carolina,” according to a press release
  • Recapturing the water rights to the Yadkin is essential to the health and well being of the citizens of the nearly 25 counties that comprise the Yadkin River Basin, Perdue stated.
  • “Given the Yadkin River’s broad impact on the state, we believe strongly that the state is the most appropriate body to plan use of this invaluable natural resource, to help assure the region’s municipal water supply and quality and to facilitate future growth and development,” Perdue stated.
  • “Given the Yadkin River’s broad impact on the state, we believe strongly that the state is the most appropriate body to plan use of this invaluable natural resource, to help assure the region’s municipal water supply and quality and to facilitate future growth and development,” Perdue stated.
  • The Badin Works aluminum smelting plant did bring 1,000 jobs to the area after Alcoa applied for its water rights license in 1958. But Alcoa, a multi-billion dollar corporation and the world’s largest producer of aluminum, ceased operations at the plant in 2007. The plant employed only 377 people when it shut down, said Alcoa spokesman Gene Ellis.
  • One of the first legislators to take their side was NC Sen. Fletcher L. Hartsell Jr., who represents Cabarrus and Iredell counties. Hartsell came on board with the Yadkin River Coalition two years ago after meeting with Dick, Jim Nance, a former board member of the NC Department of Transportation, and Stanly County Commissioner Lindsey Dunevant at his legislative offices in Raleigh.
  • But after he studied the Federal Power Act, he became fascinated with the issue of Alcoa attempting to maintain its monopoly over the 38-mile stretch of the Yadkin. Convinced of the appropriateness of the coalition’s cause, Hartsell signed on and recruited fellow Republican state senator, Stan Bingham.
  • “As far as I’m concerned, Alcoa got the gold mine and we got the shaft,” Bingham said
  • “The little town of Denton is having to pay [Alcoa] for the use of the water coming down the Yadkin for drinking,” Bingham said. “The way that’s calculated is they charge because it’s a loss of power generation…. This whole thing was done many, many years ago, and a lot of people didn’t think about the people they were dealing with at the time.”
  • “Alcoa and others keep talking about it being a ‘taking’ [of property],” Hartsell said. “It’s not a taking; it’s not even close to it. All we’re asking Alcoa to do is to fulfill the obligations that were identified in 1958 that they agreed to.”
  • “They acknowledged when the license was up, they no longer had the right to use the property,” Hartsell explained. “We’re saying there needs to be an equivalency for the run of our river, and when I say ‘our,’ I mean everybody’s. It’s not a private entity. The feds and the state have had control of the run of the rivers since the beginning of the republic.” The language of the Federal Power Act includes a stipulation that the controlling entity, in this case Alcoa, must estimate the recapture value of the resource in the event it must surrender the rights to that resource, Hartsell said. “There is a statutory formula for how you calculate recapture and Alcoa computed it to be $24.2 million in 2006,” Hartsell said.
  • Yadkin River Trust Bil
  • The bill clearly outlines the three primary issues at stake — A) who controls the waters of the Yadkin for the next 50 years; B) the environmental issue related to the condition or quality of the water itself and the immediate environs; and C) the use of the electricity generated by the run of the river.
  • “[Alcoa] signed an agreement. We’re just asking them to live up to their own word,” he said. “The state of North Carolina intervened 50 years ago on Alcoa’s behalf to assist them to get a 50-year license and operate the plant at Badin, but conditions have changed dramatically. If they’re going to use it, what is the return to the people of the state on the state’s investment in the raw material, which is the water? That water is owned by the people.”
  • Alcoa’s re-licensing application represents “the mother of all incentives,” Hartsell said. “They want the state to concede they should have $1 billion in benefit over the next 50 years and provide nothing to the state,” he said.
  • “Why should we give it away?” Hartsell continued. “From an economic development perspective, energy is the major issue associated with job growth and development regardless of the industry.”
  • He pointed out that Alcoa is capitalizing on the hydroelectric energy generated by the Yadkin by selling electricity “on the grid” rather than investing in the local communities.
  • “We’re dealing with John Dillinger and Al Capone,” Bingham said. “Alcoa reaps [millions] in profits each year and North Carolina gets zilch.”
  • An environmental study commissioned by Stanly County and conducted by professor John Rodgers of Clemson University last year established a connection between contami nation of polychlorinated biphenyls, or PCBs, in fish and soil samples taken from Badin Lake near Alcoa’s Badin Works operation. Rodgers’ findings led the Yadkin River Coalition to appeal the waterquality certification issued by the NC Department of Environment and Natural Resources, or DENR. Administrative Law Judge Joe Webster granted an injunction on May 26 prohibiting DENR from issuing a 401 Water Quality Certification to Alcoa until the full appeal is heard.
  • The state issued a fish-consumption advisory for Badin Lake between Stanly and Montgomery counties last February due to elevated levels of PCBs found in largemouth bass and catfish
  • Alcoa attempted to block the advisory by filing a legal appeal. The company claimed that the state “changed its stated evaluation criteria after the study was complete and held Badin Lake to a different standard than the other lakes and rivers in North Carolina,” according to a posting on a company website.
  • Bingham said Alcoa’s objection to the posting of the fish-consumption advisory speaks volumes about their concern for the people who swim and fish at Badin Lake.
  • “It just tells me how they do business,” Bingham said. “They fought the fish-advisory signs; they say we’re taking their property and we have no rights to the water. We’re stuck with the bastards, at least for the moment, but I feel good about the direction of the fight we’re taking on in the future.”
  • Naujoks said he’s concerned about the high concentration of PCBs in the landfills and dumping sites near Alcoa’s four hydroelectric dams. Naujoks said Alcoa has not been entirely forthcoming about the number of waste dumping sites in and around their facilities.
  • They’re not showing us where all the buried bodies are found. As we start digging down through the layers, we’re going to find much more.”
  • “Alcoa knows they can’t hide these dumping sites,” Naujoks said
  • A PROMISING FUTURE Bingham said once Perdue joined the Yadkin River Coalition, it changed everything. “It’s been wonderful; it’s been extremely important,” he said. “We were facing a multi-billion-dollar corporation, but when the governor lis tened to our pleas, they began to take this extremely seriously. They realized they’re in for a fight.”
  • Bingham said the coalition will never quit until the Yadkin River is returned to the people of North Carolina.
  • “Our legal case could take years to resolve, but the campaign to support the legislation through the coalition and FERC re-licensing could be decided within the next year,” he said. “We will work on a targeted campaign to unify and strengthen grassroots efforts of local governments, public interest organizations, businesses and individuals to reclaim the waters of the Yadkin River to benefit the public interest.”
  • Bingham said he can see a day in the near future when the Yadkin is returned to the people and the economy of the 25 counties in the Yadkin River Basin begin to flourish.
  • The NC Department of Health and Human Services issued a fish-consumption advisory last February on Badin Lake after high levels of PCBs were found in fish tissue samples. Alcoa unsuccessfully filed a legal challenge to the advisory last April. The advisory remains in effect.
  • We can offer industry power at a reduced rate and that plays a big part in manufacturing,” he said. “That would be a tremendous incentive. For years, we’ve stood by the sidelines and watched industries go elsewhere. We don’t have anything to offer industry
Yadkin River

Duke Energy, Alcoa Talk Innovation - 0 views

video.cnbc.com/gallery

duke energy yadkin ALCOA klaus kleinfeld jim rogers

shared by Yadkin River on 18 Dec 11 - No Cached
  • Yadkin River on 18 Dec 11
     
    A unique interview combination... You think any conversations regarding the YADKIN took place?
Yadkin River

China's "going out" strategy | The Economist - 0 views

www.economist.com/...chinas_going_out_strategy

China Natural Resources yadkin alcoa

shared by Yadkin River on 18 Dec 11 - No Cached
  • Beijing will use its foreign exchange reserves, the largest in the world, to support and accelerate overseas expansion and acquisitions by Chinese companies, Wen Jiabao, the country’s premier, said in comments published on Tuesday.
  • “Everyone is saying we should go to the western markets to scoop up [underpriced assets],” said Chen Yuan. “I think we should not go to America’s Wall Street, but should look more to places with natural and energy resources.”
  • As cheap as many American assets may look right now, it's difficult to argue with the Chinese strategy.
  • ...1 more annotation...
  • And investing in natural and energy resources is a nice way to hedge against future increases in commodity prices, though large-scale resource investment may make some in developed nations nervous.
Yadkin River

CHALCO - 0 views

www.chalco.com.cn/...chalco_en_view.jsp

china Chinalco aloca takeover energy yadkin

shared by Yadkin River on 19 Dec 11 - No Cached
  •  In recent years, the "go-out" process of central government-owned enterprises has been accelerated, and CHINALCO has been a star in the "go-out" drama of the central government-owned enterprises. Following is an interview with CHINALCO Party Secretary and President Xiong Weiping ——
  • This marks another major step forward for CHINALCO down the road of developing resources overseas.
  • We tried to get aligned to the leading international companies, and also approached the best private companies in China to learn from them. We reformed our management system and management structure. We changed our practices in selecting leaders
  • ...4 more annotations...
  • After two years of all-round and in-depth structural adjustment, the single line of aluminum business in the past was expanded into nine lines of business including aluminum, copper, rare metals & rare earth, resource exploration, international engineering, international trade, energy, finance, and overseas investment, and we already had the structure of a diversified mining company.
  • Xiong Weiping: Yes. During the first year of the "12th Five-Year Plan" period, we have set a strategic goal of "becoming a world-class mining company with the biggest growth potential".
  • To become a world-class mining company, we need to create another CHINALCO in the next 10 years. Obviously, it would be very hard to realize this goal within China's territory, and we must go out and participate in global competition and collaboration.
  • The ups and downs in the collaboration can also be positive and meaningful. CHINALCO has established its status in negotiation and cooperation with major western mining companies, and has obtained certain participation right and a bigger say.
Yadkin River

Jeff Immelt's Plan To Save The Economy: More Solyndras Please - 0 views

files.jobs-council.com/...ouncil_InterimReport_Oct11.pdf

shared by Yadkin River on 21 Dec 11 - No Cached
  • They propose establishing the "Clean Energy Deployment Administration" as proposed by Senate Democrats, saying that if properly funded, it could create more than 100,000 jobs.
  • ncluding the creation of a new government "financing institution" funding by up to $8 billion from the Treasury to "boost and maintain annual energy investments" to $30 billion or $40 billion annually.
  • Yadkin River on 21 Dec 11
     
    Jeff Immelt - Jobs Council -
Yadkin River

China and France chase US shale assets - FT.com - 0 views

www.ft.com/...e2-11e1-9f98-00144feabdc0.html

shared by Yadkin River on 04 Jan 12 - No Cached
  • Sinopec, China’s second-largest oil company by market capitalisation, unveiled a $2.5bn deal with Oklahoma-based Devon Energy to invest in five new development areas from Ohio to Alabama.
  • International groups are still keen to increase their exposure to unconventional US energy resources despite the environmental controversy over “fracking”, the injection of water, sand and chemicals into wells to crack rocks and release oil and gas.
  • Foreign companies have been shifting their focus from gas, prices for which have plunged, to oil. Devon’s deal with Sinopec also reflects Chinese companies’ hopes that techniques pioneered in the US could be used to develop China’s own resources.
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