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Fracking in China may not be feasible in the near future due to unaccommodating geology, population density, water availability, and lack of expertise and infrastructure.
Chinese private equity companies seem to have an interest in buying oil service companies so they can reap the benefit and add value for their investees. On Dec 23, 2011, China’s Sinopec Group, parent company of Asia Sinopec, said it had completed the acquisition of Canadian oil and gas explorer Daylight Energy for CDN 2.16 billion.
What does this mean to the Canadian oil-servicing industry? Brown’s article “Fracking is flopping overseas” provides clues on when Chinese companies’ plans will come to fruition. “…shale development in China, home to the world’s biggest unconventional gas resources, has been slower than predicted…”
Read Brown’s article: Bloomberg Business Week
Reference: Petro China
PS. Is there anything wrong with oil fracking? Send us pictures or comments about the environmental damages it may have caused to help create awareness.
#ResourceScene 
http://www.gaslandthemovie.com/ – a gripping documentary with much good information, though admittedly quite built on the idea of fear and with many claims that should be taken skeptically as stated in Truth about Gasland http://www.anga.us/TruthAboutGasland . Truth About Gasland however is also flawed. Despite claiming open diologue, etc. The piece is clearly also made as propaganda – simple fact check on the “rare cases when things do go wrong” statement.
http://stateimpact.npr.org/pennsylvania/drilling/violations/
I think, however, that probably the best way to build a future is not to build it so that we can consume ever more energy, but to build it so that we have ever more fulfilling lives in ever stronger communities.
Much exemplified in permaculture and the Transition Movement.
http://www.transitionnetwork.org/
I don’t believe fracking has been amply tested, and I don’t trust advertisement paid for by corporations since their goal is not our health and well-being, but their profits (also an inherent systemic flaw, in my opinion). Although fracking doesn’t terrify me as much as the idea to put a pipeline of oil over the largest aquifer in the united states (especially from a company that had been proven incompetent prior), it’s still pretty risky, and it uses a lot of water. Anything that mixes large quantities of water with chemicals is probably a bad idea in my opinion (including cleaning products and medications that go down the toilets on a daily basis uncleanable by water treatment plants). Kind of mirrors Rachel Carson’s Silent Spring idea.
In any case, I think that the focus in energy should be more local and more sustainable… as soon as there’s distance involved foul play becomes more likely. – IE slavery in cocoa and coffee industries, shell’s actions in sub-saharan africa, etc.
🙂