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Motley Fool Global Gains / GGV: Canada
|Subject: CNOOC doubts oil sands||Date: 1/18/2011 8:51 AM|
|Author: TMFTheSnake||Number: 33 of 36|
"Chen Weidong, an influential policy guru at government-controlled China National Offshore Oil Corp., has a blunt message for oil sands companies and investors: get out."
While this is just one man's view (not even the official company line), it does have interesting implications for oil sands investments. While Chen qualifies the shift as multi-decade, if China can unlock the uncoventional gas plays within its borders, it would indeed change the energy landscape, especially if we are to take China's efforts at greener energy seriously.
While I am pretty skeptical about their commitment when push comes to shove, the timing of this announcement seems oddly coincidental.
"Sasol abandons Indonesian coal plan, focuses on gas"
The company, based in Johannesburg, won’t pursue other coal-to-fuels projects after the current ones in China and India, it said.
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