China Shale Boom Fizzles as Clean Energy, Imports Take Lead

China has sharply cut its output target for shale, signaling the country’s drilling boom is fizzling out before it even gets going.

The nation has reduced its goal for the end of the decade to a third of an earlier estimate, as difficult geology, lack of infrastructure and limited exploration rights conspire against shale-gas ambitions. Big gas import deals, a lower oil price and China’s commitment to clean energy are also weighing on shale’s promise.