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Old 11-06-2012, 01:47 PM
Sparty Sparty is offline
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Default ASX: SEH - China Shale Oil

HONG KONG (MarketWatch)

China unveiled plans Monday to subsidize energy companies working to develop shale gas resources, a move seen by analysts as likely to help turn around a loss-making industry and potentially mark a bright spot in the nation's drive for alternative energy sources.

Central government funds will back a subsidy of 0.4 yuan (6.3 U.S. cents) for each cubic meter produced by shale-gas extractors through 2015, according to the state-run Xinhua news agency, which cited a Ministry of Finance statement.

If you are looking for an Australian play then SEH could be in the cat seat.

 

Disclaimer: The author of this post, may or may not be a shareholder of any of the companies mentioned in this column. No company mentioned has sponsored or paid for this content. Comments on this forum should never be taken as investment advice.

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