Wednesday, February 9, 2011

Oh no...China is in the back yard!

Recently Chesapeake Energy Corp. and Chinese oil giant (CNOOC Limited) have partnered up to work the Niobrara shale formation in our back yard.  Breing prospected and drilled, the Niobrara shale (located on the eastern side of Colorado, southern Wyoming, and western Nebraska) provides one of the hottest plays in Colorado right now; multiple companies and institutions conduct research and are exploring potentials in the Niobrara shale formation.


China is a one of the power houses of the world, and they are continuing to buy resources around the world to support themselves, including precious mineral deposits, REE deposits, base metal deposits, and oil and gas prospects.  This creates a scary situation.  China will be controlling some of our own major resources within the United States.  What are we going to do?

To read more about this partnership on the Niobrara play take a look at this article by Wyoming Business Report - Cheasapeake energy, China team up for Niobrara play.
Posted by Dr. Chrysoberyl at 9:46 AM

5 comments:

  1. mkennaFebruary 9, 2011 at 12:10 PM

    I would be interested to know how the U.S. government views this? And when would they be planning to drill in the Niobrara?

    ReplyDelete
  2. Taylor RFebruary 9, 2011 at 2:46 PM

    Great article I came across this article last week as well, and found it to be very interesting. One thing that I think is important about this news is that it will help so many of the smaller oil/gas service and supporting companies in the area to grow and expand. Another article from the Greeley Tribune (link posted below) that talks about Weld Counties energy outlook talks about the other major plans for local companies. It even goes into the renewable side of things, and talks about waste to energy (what my blog is about). Check it out. Energy is a great thing in all forms, especially when its all so close to home.

    http://www.greeleytribune.com/article/20110115/NEWS/701159931

    ReplyDelete
  3. MailManFebruary 9, 2011 at 3:07 PM

    So is China extracting the oil now or buying up the resources to be extracted at a later time?

    ReplyDelete
  4. Jen SchneiderFebruary 15, 2011 at 7:03 PM

    A good post, generating good comments. It doesn't seem to me this is that odd, though, is it? Don't energy companies in the US frequently pair with foreign companies? Seems typical of the multi-national corporations approach to energy spurred on by globalization. I know this is true in nuclear, for example.

    But you're right, it does raise questions. It would be interesting for you to follow up with more research on this, maybe talk to some people, tell us more. Your blog is adding a needed voice to the energy discussion.

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  5. Dr. ChrysoberylFebruary 16, 2011 at 9:33 AM

    I know energy companies have been joining up on many projects for a long time, especially in new frontier environments. But, there has been a large increase in the resources that China is buying up and putting their feet into. I am more concerned with China owning and managing more and more resources within our own country and other countries.

    ReplyDelete

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