China plans large-scale investment in new energy

China, the world’s second-biggest energy consumer, plans to spend 800 million yuan (US$100 million) over the next 10 years to study next-generation fuel, called natural gas hydrates, that could possibly ease the nation’s increasing reliance on oil imports in the long run.

They believe that the world’s gas hydrates reserves are equivalent to as much as twice the combined amount of coal, oil and natural gas, sufficient to meet global energy demands for a thousand years.

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