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China Outspends US In Shale Drilling

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May 29, 2014

According to a new report, China’s effort to catch up with the U.S. in developing shale gas and become more energy independent is coming at a big cost: It is spending four times as much developing some fields, Bloomberg said May 29.

Holding the world’s biggest potential reserves of natural gas in shale rock, China will spend billions of dollars in trying to close a gap with the shale leader, which is about a decade ahead in developing the energy resource, according to a study by Bloomberg New Energy Finance ...

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