2011 i can't wait, page-3

did we know this?
article in todays SMH.
whilst we know some analysts are predicting a s/t glut in gas, and a weakness in s/t prices, the big majors are projected to spend billions $ on gas projects - so outlook looks good.

but the bit that interets me is the statement below that says that China had power cuts only last month, because of a coal shortage.
Imagine the anger of Chinese residents when their lights go off! i can imagine that the leaders of China would not want to be seen to be unable to provide their citizens with even basic power?

SO HERE IS ANOTHER REASON WHY THE CHINESE WOULD WANT TO PUT THEIR COLLECTIVE FOOT ON ICN CSG !!! AND LOCK IN L/T LNG SUPPLIES!

"Oil prices are also expected to rise in 2011, while analysts have broadly slashed their outlook for natural gas due to an oversupply arising from American coal-seam and shale-gas projects.

In December, a severe coal shortage in China forced power cuts in the nation that relies on coal for 70 per cent of its energy needs."

cheers