WV’s Thrasher “Hopeful” First Chinese Project Announcement Soon

Yesterday the seventh Marcellus and Manufacturing Development Conference was held in Morgantown, WV. The event keynote speaker was Steve Winberg, the U.S. Dept. of Energy’s Assistant Secretary for Fossil Energy. He talked about the relationship between manufacturing and shale production. Fortunately for us, Winberg (part of the Trump Administration) said the DOE’s attitude is to not interfere with the shale miracle. Other speakers included Brian Anderson, director of the WVU Energy Institute. However, it was a brief comment made by WV Secretary of Commerce, Woody Thrasher, that really caught our attention. Last November Thrasher signed a memorandum of understanding with the Chinese government, an agreement in which the Chinese pledged to spend $83.7 billion over the next 20 years in WV’s shale and petrochemical sectors (see China Agrees to Invest Amazing $83.7 BILLION in WV Shale, Petchem). So far, five months later, not one red yuan has been invested. What’s the holdup? For one thing, there’s a developing trade war (see Will Trade War with China Affect $83.7B Investment in WV Shale?). Thrasher said yesterday he doesn’t think the trade war will interfere with China’s WV investment (if wishes were horses…). Thrasher also said he’s “very hopeful in the near future that we’ll be able to announce the first project” using Chinese money. Now that is definitely good news–perhaps the biggest news coming from yesterday’s event…

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