The bilateral trade agreement between the United States and China announced last week is good news on both sides of the Pacific, and one of the biggest winners is the U.S. natural gas industry. But what is good news for natural gas may be another nail in the coffin for coal.
The recent trade agreement will facilitate China's goal of replacing coal, which it has tapped to meet two-thirds of its energy needs for the past 30 high-growth years, with cleaner-burning natural gas. The deal would expand U.S. natural gas exports to China, including joint investment in the infrastructure that country needs to process the gas.
Read Full Article »