China Embraces Fracking in Seismically Active Province - Quakes to Follow?

China Embraces Fracking in Seismically Active Province – Quakes to Follow?

By John Daly | Sun, 26 February 2012 23:04 | 2

via China Embraces Fracking in Seismically Active Province – Quakes to Follow?.

While hydraulic fracturing, more familiarly known as “fracking,” a technique used to liberate shale oil and natural gas deposits, is in many countries coming under increased scrutiny because of environmental concerns, China has decided to embrace the process as a way to develop indigenous energy reserves.

While the U.S. is suffering from an overabundance, China and other emerging countries are well on their way to soak up the abundance of talent and natural resources the U.S.  Don’t forget natural gas is 6 times the price in Asia as it is here.  I expect the Chinese thru acquisitions and JV to send oil services stocks multiples back to something more in line with the market.