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Sinopec's Clean Coal Plan Shows It's Set To Buy Chesapeake's Texas Oil Fields

Forbes -- When I saw the headline this morning about China’s Sinopec pursuing a big energy deal in Texas I thought maybe Chesapeake Energy CEO Aubrey McClendon had finally convinced the Chinese to take that $6 billion worth of Permian Basin oil fields off his hands. That deal might still be in the offing (remember Sinopec CEO Fu Chengyu was a guest of Aubrey McClendon’s for one of the Thunder’s home games in the NBA Finals). But no, today’s news involves Sinopec looking to get involved in something even more interesting.

According to the Wall Street Journal, Sinopec aims to invest as much as $1 billion in a west Texas clean coal project. The idea is to capture the carbon dioxide emissions from burning the coal for power, then piping the CO2 around to be injected into old oil fields to coax out...


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Submitted Aug 17, 2012 By: Mudsprings
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Sinopec's Clean Coal Plan Shows It's Set To Buy Chesapeake's Texas Oil Fields Back to Topics
REPLIES (newest first) Post a Reply
honda0105
Champion Author Tallahassee

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Message Posted: Aug 19, 2012 8:01:54 AM

China already owns more of the US than the US does. Thanks to corporations wheelings and dealings.
Jkent1953
Champion Author Salt Lake City

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Message Posted: Aug 17, 2012 4:45:13 PM

China may as well own the rest of our economy.
Alfied
Champion Author Riverside

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Message Posted: Aug 17, 2012 12:46:48 PM

Again, thank you EPA.
leemun
Champion Author Utah

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Message Posted: Aug 17, 2012 12:43:25 PM

Maybe the Chinese are smarter than we are.
bobsalwaysmt
Champion Author Long Island

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Message Posted: Aug 17, 2012 11:49:56 AM

Keep them OUT!
BCM1
Champion Author Pennsylvania

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Message Posted: Aug 17, 2012 11:01:17 AM

This is just sad that outsiders are taking over our energy.
TAT36
Champion Author Florida

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Message Posted: Aug 17, 2012 10:54:51 AM

Previous post, coal to India now China is getting involved in domestic coal production. Do we have American companies that could develop this technology.
indyjim
Champion Author Indianapolis

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Message Posted: Aug 17, 2012 10:53:29 AM

No waste..............a green circuit, then?
greenfog
Champion Author Illinois

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Message Posted: Aug 17, 2012 10:52:46 AM

the technology for clean burning coal has been around a long time, they were just never required to use it.
PathTrack
Champion Author Twin Cities

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Message Posted: Aug 17, 2012 10:52:32 AM

Good grief
bojiway1
Champion Author Minnesota

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Message Posted: Aug 17, 2012 10:51:56 AM

can't do it with, but get outside money involved to bypass regs
BudsterMO
Champion Author Kansas City

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Message Posted: Aug 17, 2012 10:47:18 AM

Don't trust the Chinese as far as you can spit.
Gasazhunter
Champion Author Phoenix

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Message Posted: Aug 17, 2012 10:47:09 AM

Buy.
Insuremn
Champion Author Twin Cities

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Message Posted: Aug 17, 2012 10:46:57 AM

Ok.
hauler43
Champion Author Oakland

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Message Posted: Aug 17, 2012 10:46:52 AM

Hopefullly it doesn't contaminate the ground water
Diesel_Ram
Champion Author Dallas

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Message Posted: Aug 17, 2012 10:43:40 AM

Good
scrossi
Champion Author Indiana

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Message Posted: Aug 17, 2012 10:43:40 AM

Maybe pa79th.
deaconjones
Champion Author Cleveland

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Message Posted: Aug 17, 2012 10:43:33 AM

IT WON'T BE LONG BEFORE WE HAVE A CHINESE TAKE OUT ON EVERY STREET CORNER....WE WILL EVENTUALLY REGRET ALL THIS COMMIE INTERFERENCE.....
lindact
Champion Author New Haven

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Message Posted: Aug 17, 2012 10:43:24 AM

I'm not a chemist - where does the CO2 go?
waterwerks
Veteran Author New Mexico

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Message Posted: Aug 17, 2012 10:42:56 AM

not at all happy that this is a corporation based in China...however if it help our economy in the process and brings along a new Tech that the coal industry can pass through the EPA..then go for it!
pa79th
Champion Author Pennsylvania

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Message Posted: Aug 17, 2012 10:41:00 AM

One pollutant to milk out another? Now, CO2 will cool the ground, and stop global warming?
bluebird1
Champion Author Toronto

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Message Posted: Aug 17, 2012 10:38:31 AM

Interesting concept but is this 'injected Co2' not eventually coming out into the air??? Clean coal is a good idea ...if it's really clean - just look at fracking. Too bad not more info.
& to posters like donny47...since China has the money now, they appear to have tech. that we do not so if China will invest in clean coal here why keep them out??? If they buy out oil fields then maybe (just maybe) I see your point.
dad2two
Champion Author Dallas

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Message Posted: Aug 17, 2012 10:38:14 AM

We need to watch China's involvement in any technology. They will steal it and use it in China to beat us at our own game.
dlzastera
Champion Author Minnesota

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Message Posted: Aug 17, 2012 10:36:30 AM

I don't like foreign investment.
naw62
Champion Author Maine

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Message Posted: Aug 17, 2012 10:36:02 AM

Stop the deal
tarheelcoastie
Champion Author Greensboro

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Message Posted: Aug 17, 2012 10:35:21 AM

interesting???
toneOH
All-Star Author Ohio

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Message Posted: Aug 17, 2012 10:35:14 AM

k
tdmedan
All-Star Author Colorado

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Message Posted: Aug 17, 2012 10:34:57 AM

oh
donny47
Champion Author New Hampshire

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Message Posted: Aug 17, 2012 10:34:19 AM

keep china out!
BWJM
Champion Author KW

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Message Posted: Aug 17, 2012 10:32:23 AM

ok
porotito
Champion Author Houston

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Message Posted: Aug 17, 2012 10:32:19 AM

Mmm...
kuang2011
All-Star Author Chicago

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Message Posted: Aug 17, 2012 10:31:22 AM

ok
traumer
Champion Author Twin Cities

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Message Posted: Aug 17, 2012 10:30:51 AM

China shouldn't be allowed to buy any US companies.
Black Wagon
Champion Author Illinois

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Message Posted: Aug 17, 2012 10:30:29 AM

China is slowly buying up this country.
chyguy3
Champion Author Wyoming

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Message Posted: Aug 17, 2012 10:29:57 AM

Too late guys, China owns way too much of the U.S., now.
esorsd
Champion Author St. Louis

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Message Posted: Aug 17, 2012 10:29:42 AM

Interesting.
Car54BC08
Champion Author British Columbia

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Message Posted: Aug 17, 2012 10:28:52 AM

Clean coal...who came up with that term? I guess we now have peaceful tornadoes and kind murderers.
I10Express
Champion Author San Antonio

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Message Posted: Aug 17, 2012 10:28:31 AM

Not really sure I want the Chinese in west Texas
BlueVanGroup
Champion Author Fort Collins

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Message Posted: Aug 17, 2012 10:27:00 AM


Spend dollars now while they're still worth something.
nascar1411
Champion Author Idaho

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Message Posted: Aug 17, 2012 10:26:30 AM

ok
mikesr11
Champion Author New York City

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Message Posted: Aug 17, 2012 10:26:19 AM

GET CHINA, SOCIALISTS, AND OBAMA OUT OF HERE. REMEMBER NOVEMBER. HE IS GIVING OUR COUNTRY AND IT'S DIGNITY AWAY.
memo81
Champion Author St. Louis

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Message Posted: Aug 17, 2012 10:26:04 AM

ok
dancygreen
Champion Author Twin Cities

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Message Posted: Aug 17, 2012 10:25:37 AM

hmmm
repeater1
Champion Author Topeka

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Message Posted: Aug 17, 2012 10:24:24 AM

We lose even more to a foreign power.
puinsai808
Champion Author Honolulu

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Message Posted: Aug 17, 2012 10:24:01 AM

Interesting.
Ken2OD
Champion Author Grand Rapids

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Message Posted: Aug 17, 2012 10:23:43 AM

The USA will no longer control its own destiny. SAD!
Ticobird
Champion Author Huntsville

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Message Posted: Aug 17, 2012 10:22:55 AM

You need to go back and read the article again Chinto12. The short version reads like this; Sinopec builds a clean coal power plant in the Southwest US. This power plant captures the CO2 that would otherwise go into the atmosphere. This is why it is called "clean coal." Then Sinopec will sell the CO2 to US companies drilling in the Permian Basin which is also in the Southwestern US to be injected into old oil fields to coax out more stubborn crude. This is a win win.
91Hilux
Champion Author New Haven

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Message Posted: Aug 17, 2012 10:22:44 AM

To timesaverinc: They are already doing it in China, and successfully. They are doing it MUCH better than we can, and if we could have that technology, we could improve our oil production without having to drill new wells.

It could be a win-win for a change.
nauzad
Champion Author Las Vegas

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Message Posted: Aug 17, 2012 10:20:19 AM

Hahaha... So the Chinese will now control our gas prices.
LoadToad
Champion Author San Diego

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Message Posted: Aug 17, 2012 10:20:03 AM

OK
hibsaw
Champion Author Mississippi

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Message Posted: Aug 17, 2012 10:19:14 AM

That will make gasoline prices go up.
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