Energy & Resources Talking Points | 19/04/2018

In Todays Talking Points: China is getting better at fracking; the technology that sparked the US natural gas boom; China-proposed energy initiative foresighted in solving world problems: U.S. expert; China to expand renewable energy development

China is getting better at fracking, the technology that sparked the US natural gas boom

Chinese energy giants are forecasted to double its natural gas production to 17 billion cubic meters by 2020, according to Wood Mackenzie. Although there is still a long way to go to meet world leading US shale gas production, China’s homegrown technology is developing exponentially. From 2010, China has cut drilling exploration costs by over 40 percent, and anticipates a further 20% compared to 2017 levels. There are talks of a potential partnership with the U.S to turbocharge production, however there are concerns due to the vast difference in China’s shale landscape.

Read more at: CNBC

China-proposed energy initiative foresighted in solving world problems: U.S. expert

In 2015, China proposed the Global Energy Interconnection (GEI) initiative which creates a future where fossil-fuel based energy is replaced by renewable energy.   Harvard Professor Michael B. McElroy believes that GEI can address world problems through using such solar and wind energy in a constructive way. Studies reveal that if implemented smoothly, 81 percent of electricity globally will be generated by clean energy by 2050. Many strong connections between U.S. and Chinese companies will be established as a result.

Read more at: Xinhuanet

China to expand renewable energy development

China’s reliance on coal as a major energy source is declining and many countries are seeking to follow in their footsteps. The UN has commended China for their increased investment to boost trade in renewable energy and decrease in manufacturing costs. Through stricter pollution controls and use of vehicles, the Chinese government is accelerating ‘green’ car manufacturing. According to the China Association of Automobile Manufacturers, new energy production jumped 53.8 per cent in 2017.

Read more at: The BRICS Post