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[财经英语角区] 20120606 Follow Me 391 China Challenges U.S. Supremacy in Shale Gas [推广有奖]

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shenxiaoqiang 发表于 2012-6-5 18:11:27 |AI写论文

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China Challenges U.S. Supremacy in Shale Gas
By CHRISTOPHER SWANNPublished: September 4, 2011


China has a chance of challenging the United States for shale supremacy. So far, only the United States has significantly exploited domestic reserves of shale gas. But Sinopec, China’s major state-run oil company, is now taking shale seriously and lacks many of the roadblocks that have held back developers in other countries.

Many nations have energy trapped in their rocks, but shale gas extraction, born in the U.S.A., has all but stayed here. France moved to ban hydraulic fracturing, the contentious drilling technique used to extract energy from shale, earlier this year. In Europe mineral rights often belong to the government, making it difficult for landowners to profit from shale development and thus hardening public opposition. Only in Poland is much progress being made.

China, however, may be best suited to shale. In New York and New Jersey, authorities have halted drilling in response to public unease, at least temporarily. Such sentiments are unlikely to stand in the way in China, where over 1.2 million people were moved to make way for the Three Gorges Dam.


There is good reason to develop shale, too. About 71 percent of China’s power comes from coal, creating an acute need for lower-carbon sources of energy. And while the low price of natural gas may slow drilling in the United States over the coming year, China’s state oil companies have proved willing to operate at a loss to ensure domestic supply.
China’s emerging enthusiasm for domestic shale may be partly a hardball tactic for negotiating with Russian suppliers, with which the country has been struggling to agree on a price for gas imports.
Moreover, geologic deposits are an unknown. While China may have about 50 percent more shale gas than the United States, according to the Energy Information Administration, it has yet to uncover formations like the vast Marcellus or Eagle Ford deposits. But don’t count China out: in the shale race, abundant capital, determination and political will go a long way.


Backing Off Air Rules
President Obama’s environmentally minded backers had every reason to feel let down last week. By blocking a new Environmental Protection Agency rule on smog, the White House has bowed to critics in Congress and industry who said new air quality rules would kill jobs.
With the United States creating zero jobs in August, economic scare tactics are bound to register. And America’s big emitters — the coal, oil and chemical industries — are masters of the art. They have been fighting hard to prevent the E.P.A. from tightening a number of emissions rules. Dow Chemical, for instance, has claimed that updated smog rules alone would cost as much as $90 billion.
The Edison Electric Institute, speaking for electricity generators, warns that the E.P.A.’s full slate of proposals could compel the industry to spend $129 billion on upgrades, force the closing of a fifth of coal generators, and lead to blackouts. Republican critics have branded the new rules job-killers and a brake on business activity and hence the economy.



But dire predictions from affected industries in the past have proved wildly exaggerated — or just plain wrong. During the Clean Air Act debate 20 years ago, the Edison Electric Institute warned that tightened standards would lift electricity prices by up to 13 percent by around 2009. In fact they fell by some 20 percent as of 2006.
And in 1997 the American Petroleum Institute, an oil industry group, warned that smog rules would wreak economic havoc. Yet regions that might have been affected actually had slightly better job creation rates on average than the nation as a whole in following years, according to a study by the Center for American Progress.
Dropping the new rule also undermines electricity generators that have tried to clean up ahead of time, including Exelon and GenOn Energy.
Then there are the benefits that would have come with stricter standards. The E.P.A. estimates new emissions regulations could save as much as $100 billion in health care costs. Such numbers are also open to question. But the case for savings is strong.
By giving in to polluters, Mr. Obama may deflect criticism over red tape and the rule could come back into consideration in 2013. But barring possible tiny, short-lived effects, the supposed economic benefits of caving in are a smokescreen for political maneuvering.

Newest report:
1.Shell Says Early Shale-Gas Drilling in China Encouraging
Read more: http://www.foxbusiness.com/news/2012/06/05/shell-says-early-shale-gas-drilling-in-china-encouraging/#ixzz1wucwXapi
2.IEA sees natural gas consumption climbing
http://www.france24.com/en/20120605-iea-sees-natural-gas-consumption-climbing
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关键词:Challenges Challenge Supremacy follow China China

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laodao0 发表于11楼  查看完整内容

Would Shale gas eventually change the energy supply and demand frame of the world? In fact, the answer of the question is not important, the important thing is action: the biggest enemy of technology innovation is the risk, the biggest charm of technological innovation is that how to control the risk effectively and realize the revolutionary cross over for the development of human beings ! ...

whachel1976 发表于4楼  查看完整内容

Environmental(Environment) problems need to be considered when concerned with investments. But a more practical way is to minimize environmental destruction or to find alternative ways to eliminate negative effects, not to block new opportunities for production capability. When the technology becomes mature, on the basis that the policy permits, hundreds of private-owned drilling companies wil ...

reduce_fat 发表于14楼  查看完整内容

We need to think about why China is the best place to develop shale. Maybe China has a lot mineral resources, advanced techniques, and easy extraction policies to develop shale. The U.S. is also an economic giant in the world and has exploited shale gas as well according to the author's report (Swann 2011). However, shale gas is not a renewable energy, which cannot regenerated once it's used up. O ...
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受到警告 沙发
jinyiwei88 发表于 2012-6-5 18:43:45
提示: 受到警告  mu_lianzheng 灌水 2012-6-5 18:56
沙发

受到警告 藤椅
┏soul╄┛ 发表于 2012-6-6 10:52:23
提示: 受到警告  mu_lianzheng 灌水 2012-6-6 16:37
顶一个

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whachel1976 发表于 2012-6-6 14:32:53
Environmental(Environment) problems need to be considered when concerned with investments. But a more practical way is to minimize environmental destruction or to find alternative ways to eliminate negative effects, not to block new opportunities for production capability.

When the technology becomes mature, on the basis that the policy permits, hundreds of private-owned drilling companies will spring up as what has been the case in coal mining industry.

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报纸
cglee 发表于 2012-6-6 17:12:18
To be honest, this article is too professional for me to understand. But I(i) think it's a bit exaggerated to draw the conclusion that "China challenges U.S. supremacy".
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地板
jias2009 发表于 2012-6-6 17:16:57
来点中文的吧,看得太累
幸福的标准:数钱数到手发麻,睡觉睡到自然醒。

7
Vision. 发表于 2012-6-6 17:39:08
求精确的中文翻译!
欢迎大家关注我的博客http://zshon.com  http://chovision.com

8
happylife87 发表于 2012-6-6 18:34:19
It does not show China can challenge US in shale gas, and it is only a bit convenient for Sinopec in getting the resource. Pollution should be prevented if it is really used in a general way in the future.
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mu_lianzheng 发表于 2012-6-6 19:02:43

China Challenges U.S. Supremacy in ShaleGas

中国挑战美国的页岩气(存于页岩缝隙中的天然气)的霸主地位
China has a chance of challenging the United States forshale supremacy. So far, only the United States has significantly exploiteddomestic reserves of shale gas. But Sinopec, China’s major state-run oilcompany, is nowtaking shale seriously and lacks many of the roadblocks that have held backdevelopers in other countries.

中国有机会挑战美国在页岩的霸主地位。 到目前为止,只有美国大面积开发使用了国内存储的页岩气。 但中国的主要国有公司-中国石化现在正在谨慎地开发使用页岩,并且没有遇到许多在其他国家开发遇到障碍的情况。


coffee

10
南方小子 发表于 2012-6-6 20:56:08
it's a bit exaggerated to draw the conclusion that "China challenges U.S. supremacy".
But we should do something we can do to protect the environment!
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