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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

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honda0105 Champion Author Tallahassee Posts:18,811 Points:1,635,270 Joined:Nov 2008	Message Posted: Aug 19, 2012 7:01:54 AM Ignore honda0105 Report Abuse China already owns more of the US than the US does. Thanks to corporations wheelings and dealings.
Jkent1953 Champion Author Salt Lake City Posts:2,121 Points:466,685 Joined:Dec 2011	Message Posted: Aug 17, 2012 3:45:13 PM Ignore Jkent1953 Report Abuse China may as well own the rest of our economy.
Alfied Champion Author Riverside Posts:8,069 Points:1,781,990 Joined:Jun 2001	Message Posted: Aug 17, 2012 11:46:48 AM Ignore Alfied Report Abuse Again, thank you EPA.
leemun Champion Author Utah Posts:5,672 Points:1,065,815 Joined:May 2010	Message Posted: Aug 17, 2012 11:43:25 AM Ignore leemun Report Abuse Maybe the Chinese are smarter than we are.
bobsalwaysmt Champion Author Long Island Posts:4,704 Points:268,015 Joined:Oct 2007	Message Posted: Aug 17, 2012 10:49:56 AM Ignore bobsalwaysmt Report Abuse Keep them OUT!
BCM1 Champion Author Pennsylvania Posts:1,879 Points:786,420 Joined:Jun 2007	Message Posted: Aug 17, 2012 10:01:17 AM Ignore BCM1 Report Abuse This is just sad that outsiders are taking over our energy.
TAT36 Champion Author Florida Posts:6,939 Points:1,328,250 Joined:Sep 2009	Message Posted: Aug 17, 2012 9:54:51 AM Ignore TAT36 Report Abuse 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 Posts:10,257 Points:2,345,180 Joined:Jul 2006	Message Posted: Aug 17, 2012 9:53:29 AM Ignore indyjim Report Abuse No waste..............a green circuit, then?
greenfog Champion Author Illinois Posts:6,620 Points:1,664,770 Joined:Feb 2008	Message Posted: Aug 17, 2012 9:52:46 AM Ignore greenfog Report Abuse 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 Posts:1,204 Points:135,055 Joined:Jan 2005	Message Posted: Aug 17, 2012 9:52:32 AM Ignore PathTrack Report Abuse Good grief
bojiway1 Champion Author Minnesota Posts:2,180 Points:504,685 Joined:Dec 2011	Message Posted: Aug 17, 2012 9:51:56 AM Ignore bojiway1 Report Abuse can't do it with, but get outside money involved to bypass regs
BudsterMO Champion Author Kansas City Posts:3,840 Points:729,680 Joined:Aug 2009	Message Posted: Aug 17, 2012 9:47:18 AM Ignore BudsterMO Report Abuse Don't trust the Chinese as far as you can spit.
Gasazhunter Champion Author Phoenix Posts:4,341 Points:1,053,470 Joined:May 2010	Message Posted: Aug 17, 2012 9:47:09 AM Ignore Gasazhunter Report Abuse Buy.
Insuremn Champion Author Twin Cities Posts:5,082 Points:1,056,460 Joined:May 2010	Message Posted: Aug 17, 2012 9:46:57 AM Ignore Insuremn Report Abuse Ok.
hauler43 Champion Author Oakland Posts:8,158 Points:2,597,750 Joined:Sep 2003	Message Posted: Aug 17, 2012 9:46:52 AM Ignore hauler43 Report Abuse Hopefullly it doesn't contaminate the ground water
Diesel_Ram Champion Author Dallas Posts:6,629 Points:1,544,150 Joined:Jan 2009	Message Posted: Aug 17, 2012 9:43:40 AM Ignore Diesel_Ram Report Abuse Good
scrossi Champion Author Indiana Posts:4,014 Points:1,074,240 Joined:Dec 2008	Message Posted: Aug 17, 2012 9:43:40 AM Ignore scrossi Report Abuse Maybe pa79th.
deaconjones Champion Author Cleveland Posts:2,249 Points:324,505 Joined:May 2006	Message Posted: Aug 17, 2012 9:43:33 AM Ignore deaconjones Report Abuse 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 Posts:8,866 Points:1,742,720 Joined:May 2008	Message Posted: Aug 17, 2012 9:43:24 AM Ignore lindact Report Abuse I'm not a chemist - where does the CO2 go?
waterwerks Veteran Author New Mexico Posts:349 Points:185,930 Joined:Mar 2012	Message Posted: Aug 17, 2012 9:42:56 AM Ignore waterwerks Report Abuse 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 Posts:1,912 Points:1,241,850 Joined:Jun 2007	Message Posted: Aug 17, 2012 9:41:00 AM Ignore pa79th Report Abuse One pollutant to milk out another? Now, CO2 will cool the ground, and stop global warming?
bluebird1 Champion Author Toronto Posts:15,863 Points:3,132,900 Joined:May 2004	Message Posted: Aug 17, 2012 9:38:31 AM Ignore bluebird1 Report Abuse 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 Posts:3,644 Points:772,395 Joined:May 2010	Message Posted: Aug 17, 2012 9:38:14 AM Ignore dad2two Report Abuse 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 Posts:4,635 Points:1,048,720 Joined:Mar 2006	Message Posted: Aug 17, 2012 9:36:30 AM Ignore dlzastera Report Abuse I don't like foreign investment.
naw62 Champion Author Maine Posts:9,562 Points:2,242,665 Joined:Sep 2006	Message Posted: Aug 17, 2012 9:36:02 AM Ignore naw62 Report Abuse Stop the deal
tarheelcoastie Champion Author Greensboro Posts:5,319 Points:1,136,455 Joined:Jan 2009	Message Posted: Aug 17, 2012 9:35:21 AM Ignore tarheelcoastie Report Abuse interesting???
toneOH All-Star Author Ohio Posts:551 Points:32,195 Joined:May 2011	Message Posted: Aug 17, 2012 9:35:14 AM Ignore toneOH Report Abuse k
tdmedan All-Star Author Colorado Posts:581 Points:149,715 Joined:May 2012	Message Posted: Aug 17, 2012 9:34:57 AM Ignore tdmedan Report Abuse oh
donny47 Champion Author New Hampshire Posts:2,756 Points:1,005,340 Joined:Feb 2009	Message Posted: Aug 17, 2012 9:34:19 AM Ignore donny47 Report Abuse keep china out!
BWJM Champion Author KW Posts:1,113 Points:303,780 Joined:Oct 2011	Message Posted: Aug 17, 2012 9:32:23 AM Ignore BWJM Report Abuse ok
porotito Champion Author Houston Posts:2,234 Points:602,765 Joined:Dec 2010	Message Posted: Aug 17, 2012 9:32:19 AM Ignore porotito Report Abuse Mmm...
kuang2011 All-Star Author Chicago Posts:734 Points:146,435 Joined:Aug 2012	Message Posted: Aug 17, 2012 9:31:22 AM Ignore kuang2011 Report Abuse ok
traumer Champion Author Twin Cities Posts:5,499 Points:1,363,225 Joined:Aug 2006	Message Posted: Aug 17, 2012 9:30:51 AM Ignore traumer Report Abuse China shouldn't be allowed to buy any US companies.
Black Wagon Champion Author Illinois Posts:7,442 Points:1,827,770 Joined:Mar 2004	Message Posted: Aug 17, 2012 9:30:29 AM Ignore Black Wagon Report Abuse China is slowly buying up this country.
chyguy3 Champion Author Wyoming Posts:2,855 Points:860,590 Joined:Sep 2006	Message Posted: Aug 17, 2012 9:29:57 AM Ignore chyguy3 Report Abuse Too late guys, China owns way too much of the U.S., now.
esorsd Champion Author St. Louis Posts:5,868 Points:1,664,490 Joined:May 2005	Message Posted: Aug 17, 2012 9:29:42 AM Ignore esorsd Report Abuse Interesting.
Car54BC08 Champion Author British Columbia Posts:4,384 Points:1,536,090 Joined:Jun 2008	Message Posted: Aug 17, 2012 9:28:52 AM Ignore Car54BC08 Report Abuse Clean coal...who came up with that term? I guess we now have peaceful tornadoes and kind murderers.
I10Express Champion Author San Antonio Posts:8,801 Points:1,665,720 Joined:Nov 2008	Message Posted: Aug 17, 2012 9:28:31 AM Ignore I10Express Report Abuse Not really sure I want the Chinese in west Texas
BlueVanGroup Champion Author Colorado Posts:7,336 Points:1,554,145 Joined:May 2008	Message Posted: Aug 17, 2012 9:27:00 AM Ignore BlueVanGroup Report Abuse Spend dollars now while they're still worth something.
nascar1411 Champion Author Idaho Posts:2,023 Points:688,065 Joined:Nov 2010	Message Posted: Aug 17, 2012 9:26:30 AM Ignore nascar1411 Report Abuse ok
mikesr11 Champion Author New York City Posts:3,632 Points:705,965 Joined:Mar 2011	Message Posted: Aug 17, 2012 9:26:19 AM Ignore mikesr11 Report Abuse 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 Posts:2,479 Points:470,250 Joined:Feb 2012	Message Posted: Aug 17, 2012 9:26:04 AM Ignore memo81 Report Abuse ok
dancygreen Champion Author Twin Cities Posts:2,178 Points:509,420 Joined:Sep 2011	Message Posted: Aug 17, 2012 9:25:37 AM Ignore dancygreen Report Abuse hmmm
repeater1 Champion Author Topeka Posts:8,432 Points:2,391,550 Joined:Oct 2005	Message Posted: Aug 17, 2012 9:24:24 AM Ignore repeater1 Report Abuse We lose even more to a foreign power.
puinsai808 Champion Author Honolulu Posts:3,692 Points:753,055 Joined:May 2011	Message Posted: Aug 17, 2012 9:24:01 AM Ignore puinsai808 Report Abuse Interesting.
Ken2OD Champion Author Grand Rapids Posts:9,203 Points:1,997,690 Joined:Dec 2005	Message Posted: Aug 17, 2012 9:23:43 AM Ignore Ken2OD Report Abuse The USA will no longer control its own destiny. SAD!
Ticobird Champion Author Huntsville Posts:3,319 Points:1,135,430 Joined:Oct 2009	Message Posted: Aug 17, 2012 9:22:55 AM Ignore Ticobird Report Abuse 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 Posts:2,252 Points:705,495 Joined:Aug 2007	Message Posted: Aug 17, 2012 9:22:44 AM Ignore 91Hilux Report Abuse 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 Posts:1,104 Points:300,530 Joined:Mar 2010	Message Posted: Aug 17, 2012 9:20:19 AM Ignore nauzad Report Abuse Hahaha... So the Chinese will now control our gas prices.
LoadToad Champion Author San Diego Posts:1,364 Points:1,298,045 Joined:Sep 2005	Message Posted: Aug 17, 2012 9:20:03 AM Ignore LoadToad Report Abuse OK