Natural Gas News – August 22, 2018
Natural Gas News – August 22, 2018
Canada’s Ultra-Cheap Natural Gas Drives Hopes of Petrochemical Boom
Reuters reported: Canada’s gas-rich province of Alberta is looking to recreate the building boom spreading along the U.S. Gulf Coast, where inexpensive natural gas generated billions of dollars in investment by petrochemical companies. The adoption by drillers of fracking technology to unlock oil and gas from shale rock expanded U.S. production dramatically starting a decade ago. That abundance has generated $194 billion since 2010 in announced capital investment to build or expand U.S. chemical plants that use gas to make plastics, fertilizer and fuel, according to the American Chemistry Council. Alberta hopes to do the same thing, turning prices that are about one-third those at the U.S. Gulf Coast into a competitive advantage to attract petrochemical companies. For more on this story visit reuters.com or click https://reut.rs/2nYMWgT
This Vital Oil And Gas Choke Point Could Be At Risk
Oil Price reports: Beijing is taking to task a Pentagon report, ”Military and Security Developments Involving the People’s Republic of China 2018” released last Thursday on China’s military activities. The annual report issued by the Pentagon and presented to Congress, highlights growing Chinese naval capability, all the while underscoring the narrowing gap between China’s maritime forces and he U.S. Navy as well as China’s increased naval activity in the Western Pacific Ocean. The report states that China’s People’s Liberation Army Navy (PLAN) has global ambitions far beyond the traditional perimeters of its land-based defense systems, a claim that Beijing has always cleverly downplayed. “The PLAN continues to develop into a global force, gradually extending its operational reach beyond East Asia and the Indo-Pacific into a sustained ability to operate at increasingly longer ranges,” the Pentagon report said, “The PLAN’s latest naval platforms enable combat operations beyond the reach of China’s land-based defenses.” For more on this story visit oilprice.com or click https://bit.ly/2OTENWq
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