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Author: TMFTheSnake Big red star, 1000 posts Global Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 36  
Subject: CNOOC doubts oil sands Date: 1/18/2011 8:51 AM
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"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."

http://mot.ly/ihPyT0

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"
http://www.businessweek.com/news/2011-01-18/sasol-abandons-i...

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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