Comparative study of unconventional oil and gas policies between China and the United States and implications and suggestions

doi:10.3969/j.issn.1672-7703.2025.06.002

Abstract

Abstract: At present, against the backdrop of global oil and gas development entering the unconventional era, the practice and insights of the United States’ fiscal, tax, and industrial policies for unconventional oil and gas, which have facilitated its rapid development, have attracted considerable attention from both industry and academia. As a result, a comparative study of unconventional oil and gas policies between China and the United States has been conducted to analyze their similarities and differences, and policy suggestions for the development of unconventional oil and gas in China have been proposed. The study results indicate that the United States has implemented a series of preferential policies for unconventional oil and gas that are substantial in scope and long-lasting in duration. These policies are characterized by forward-looking nature, sustainability, significant effectiveness, and synergistic relationship with technological advancements, serving as a key driver behind the success of the U.S. shale revolution and even its energy independence. The comparison of unconventional oil and gas policies between China and the United States shows similarities in terms of policy background, objectives, supporting routes, and the reliance on market mechanisms as a policy prerequisite. In contrast, China’s unconventional oil and gas policies lack systematic coordination, and the development of unconventional oil and gas industry is unable to seamlessly align with policy implementation. In terms of unconventional gas, although subsidy policies have been in place for many years and remarkable results have been achieved, policy continuity remains insufficient. Regarding unconventional oil, the current targets for shale oil development are increasingly deteriorated in quality, leading to greater technical difficulties and cost reduction challenges. However, policies for shale oil development are basically absent. In reality, supporting policies for unconventional oil and gas development are a systematic project, and policy design and implementation require national policy support, cultivation by local governments, assistance from their parent groups, and quality and efficiency improvement by the oil and gas field companies themselves. Through a “four-in-one” integrated policy linkage development model, the fiscal and tax policy system for unconventional oil and gas in China can be promoted and refined.

Key words: unconventional oil and gas, fiscal policy, policy suggestion, United States, China

CLC Number:

TE02

Zheng Yiqiong, Ruan Conghui, Liu Bin, Zheng Bin, Liu Haiying. Comparative study of unconventional oil and gas policies between China and the United States and implications and suggestions[J]. China Petroleum Exploration, 2025, 30(6): 13-28.

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