March 11, 2013
As natural gas producers in the United States have had to divest some of their assets because of the low price market of gas, Chinese state oil companies have stepped in to buy these assets at a discount. While these companies are not able to export the oil from the acreage, what they are really gaining is a first-hand look at the unconventional production technology their U.S. counterparts are using.
Because the U.S. is so far ahead of the rest of the world regarding this technology, domestic firms are hoping to utilize their knowledge bases abroad. However, if these deals continue to happen, China and other major markets might not need our assistance in the future. Who could suffer if this continues?
A fracking expert that was first to the Chinese unconventional market
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