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The Role of Non-Conventional Hydrocarbons in Meeting the Growing Energy Demand
China has
been experiencing a period of extraordinary economic expansion during the last
decade. Consequently, the energy demand in China has grown at a very fast pace
as a result of the rapid economic development. This torrent rate of growth in
energy consumption in China has significant implications on Sino-US relations as
well as with the balance of supply and demand in the world energy market. With
the rapid technology advances and various oil and gas price hikes in recent
years, non-conventional hydrocarbon resources, such as heavy oil, tight gas, and
coal-bed methane, have become more economically viable and have attracted
significant attention from both multi-national energy companies as well as the
Chinese national oil companies. The worldwide non-conventional hydrocarbon
resource potential is huge and not very well understood. The current share of
non-conventional hydrocarbon in global fossil fuel production is relatively
small, but it is growing fast. An increase in the utilization of
non-conventional hydrocarbon resources in an economic fashion would certainly
help balance the supply and demand in today's world energy market. The
exploration and development of global non-conventional hydrocarbon resources
will create vast opportunities for the collaboration and/or competition between
US and Chinese companies. The China-US Roundtable Session: The Role of
Non-conventional Hydrocarbon in Meeting Growing Energy Demand will bring China
and US scholars, business people, and leading experts in industry together to
discuss the potential business impact of non-conventional hydrocarbon in the
world energy market and to identify issues and opportunities in finding and
developing non-conventional hydrocarbon resources.
