Tuesday, December 07, 2010
Reforms needed as China plans alternative gas push
China's plans to triple the use of natural by 2020 by tapping potential massive supplies locked up in huge coal and shale deposits hinge on policy reforms to allow more foreign investment and a gradual change to market pricing.
Techniques that have allowed drillers in the U.S. to punch holes horizontally through previously tapped tight hydro-carbon rich geologic formations has spurred a boom in the production of unconventional gas sources in the past decade such as coal seam fields in Pennsylvania and shale deposits in Canada.
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