Here are some eye-popping numbers. In 1995 China had a 6 billion barrel equivalent consumption total. This is all the energy consumed, including wind, solar, nuclear, coal, natural gas, etc, translated into barrels of oil. In 1995, the US was at 16 billion barrels. In 2010 the US was up slightly to 17 billion barrels. But, China was at 18 billion. Tripling the 1995 number. China is expected to reach half of the world’s consumption in the next two decades.
CNPC, the Chinese national oil company employees 1.5 million people. Annual revenue is $271 billion. China may have 1,275 trillion cubic feet of natural gas in shale. Triple the estimates for the US. China has partnered with Shell to get that gas. China plans to double the use of natural gas to 8 percent by 2015.
China will invest $828 billion in it’s power industry by 2015. Developing oil and gas fields, building refineries and pipelines across the country and adding power plants and nuclear reactors.
What is the difference between the Chinese strategy and the US strategy? One is action oriented pulling out all the stop all over the world to insure energy for the country’s growth.
The other is investing in Solyndra.
