Thursday Energy Links
1. WSJ -- "Energy intensive industries in Europe and Asia are becoming increasingly envious of the huge competitive advantage their U.S. rivals have gained from a boom in natural gas production. The gap between U.S. and international gas prices has expanded to all time highs, giving American industries a competitive advantage that could be worth as much as $1 billion a day."2. "The development of the Eagle Ford shale continues to prompt dazzling assessments and predictions from experts, who said at an energy symposium Wednesday that in four years, the oil-rich formation could become the nation’s second-most productive shale play. Production in the Eagle Ford could reach 1 million barrels a day by 2016."3. China Petrochemical Corp. will start pumping thenation’s first shale gas from a project in Sichuan province next month. 4. "The shale energy boom in North America will lead to an industrial revival in the region while Europe could benefit from a conventional gas glut that will help decouple it from surging global oil prices, according to industry leaders and analysts.A boom in North American shale gas production in the past five years has resulted in sharp falls in domestic power and gas prices there and could turn North America from a gas importer into a large exporter, and a similar development is seen as underway in the oil sector.“It fundamentally modifies the geopolitical landscape, and this is bullish US. They will have the cheapest power, gas, and oil and that could lead to an industrial revival as its industry becomes globally competitive again because of cheap energy, said Daniel Jaeggi, co-founder and Head of Global Trading of Geneva-based commodities trading house Mercuria."