Yang Bingqing: Oil Industry Is Her Lifelong Career

In 1998， Yang Bingqing went to America with her husband and finally acquired her bachelor degree in California State University. After graduation， Yang Bingqing took part in many interviews but proved hard to find her ideal job as a matter of language and cultural differences. Influenced by her family from childhood， Yang Bingqing hoped to do something challenging and creative， thus deciding to start her own business. From startup in 2005 to a huge success in 2012， the story of Yang Bingqing deserves our care.

Hard beginning

In 2005， Yang Bingqing worked as a foreign exchange trader in a company located in San Francisco. Six months later， Yang Bingqing felt that the foreign exchange industry was extremely risky， and she must endure overwhelming pressure everyday. In an accidental chance， Yang Bingqing encountered an American oilfield development company selling oilfield while attending a foreign exchange exhibition.

Born and bred in Sichuan oilfield， oil industry was not new to Yang Bingqing. Yang Bingqing contacted this company and displayed her interest when she was home. In the meantime， Yang Bingqing began to study oil industry in America with the convenient help of Internet， from tax law， ownership and government regulation. In that period， Yang Bingqing went to Jim Rogers’speech about how to profit from commodity investment， which made her determined to start oil business. When she met Jim Rogers afterwards， she told him that his speech totally changed her life.

After making up her mind， Yang Bingqing started her own business journey. At first， Yang Bingqing telephoned many oil companies and showed her will and interest to help them tap overseas Chinese market in San Francisco. As most of the American oil companies are located in south and middle America where information was not spread as fast as possible， even many companies did not have their own websites. With Yang Bingqing’s painstaking efforts， a company finally promised to give Yang Bingqing a chance.

From then on， Yang Bingqing worked as an agent of the company in San Francisco. Though with no fixed income， Yang Bingqing was full of passion and motivation to do the job well. To find investors as quickly as possible， Yang Bingqing began to make speeches everywhere. She still remembered vividly her first speech. It was held in a conference room in Hilton nearby the headquarter of Luca International Energy Group. More than 70 people attended that speech which made Yang Bingqing realized the great potential of oil market.

Clear investors’misunderstandings

In that process， Yang Bingqing conducted a great deal of studies on America’s oil industry. She constantly carried out field investigation with investors and gradually attained their recognition. When exchanging with investors， Yang Bingqing discovered that there was a lack of basic knowledge of oil industry in America among overseas Chinese. Even misunderstands existed in many aspects. For example， oil was prohibited from exploiting in America. Oil industry was full of risks. Oil industry in America was monopolized by several big companies. But this was not the case.

According to Yang Bingqing， investing in oil industry was a strange topic for most of the people. However， investment in oil exploration in the mainstream of American society has been popular for nearly a hundred years. The United States is a private ownership country， the vast majority of mineral resources are privately owned. Drilling for oil on private land was protected by law， and also encouraged by the government. In the U.S.， individuals have the opportunity to own oil wells.

First， the exploitation of oil wells is not only a high-risk but also highreturn business due to the use of the advanced technology of exploration and development of mining technology. In the United States， up to 90% of oil wells are successfully exploited. In other words， the probability of investors lose all their investment cost is 10%. Second， investment in oil exploration in the United States is encouraged and supported by the State and Congress. Congress passed a special tax law to exempt 15% of the income of the oil from taxes. Relative to other investments， investors in oil exploitation do not have to participate in the daily management， and can enjoy 100% tax relief. Third， due to the private ownership of oil field， exploitation is a capital-intensive industry. It is hard to form an oil monopoly in the United States， therefore the United States has no national oil companies， SMEs produce 50% of U.S. oil and 60% of the gas.

It is known to all that more than 80% of global energy supply consists of coal， oil and natural gas. Oil is nonrenewable resources， so far no other resource can be completely replaced by the extensive and efficient use of oil， and no one industry can be relatively easy to bridge a huge gap between supply and demand as the oil industry.

As far as Yang Bingqing is concerned， investment in oil exploration is a very profitable choice， but also quite strange for the Chinese community. Fortunately， Luca International Energy Group， as a pioneer of oil field development， provides a platform for overseas Chinese to enter the U.S. oil industry. Luca International Energy Group has its own well-organized team of experts， including geological experts， geologists， petroleum engineers， accountants， investment analysts， and professional management. Luca International Energy Group is a professional， efficient and trustworthy company.

Hard work paid off

To accommodate the rapidly expanding business in 2008， Yang Bingqing decided to move out of her home office to an A-level office. But it was difficult to find one， since she， as a student back then， had no credit record or bank deposit. Luckily， amidst the start of the burst of the housing bubble， a company wanted to lease one of their offices to cut costs. After some time， Yang Bingqing felt the office was not spacious enough and started looking for a bigger one in the building. She was startled to be asked by the landlord to move out of the office immediately， with all of her deposit confiscated. Yang Bingqing had no choice but to seek legal help. Her claim upheld， Yang Bingqing drove the landlord away and got the office back. This event taught Yang Bingqing the difficulty and risk of doing business in the U.S.， and how to respond to them.

In early 2009， the plummeting of the oil price from $148 to $35 a barrel dented investors’ confidence in oil exploitation， putting Yang Bingqing in severe liquidity shortage. All of her four employees left. Facing the greatest adversity since the start of the company， Yang did not back off， and managed to weather the crisis. Things started to get better since the later half of 2009. The company evolved into Luca International Energy Group.

Yang Bingqing introduced China’s Foreign Trade reporter to the state of Luca International Energy Group in 2012. It holds five oil-gas fields which are worth $2.6 billion， with stakes ranging from 60% to 1000%; a Regional Center approved by USCIS to develop oilfield， which could help 400 families immigrate to the States by way of investment; 11 subsidiaries， with licenses to develop oilfields in Texas and Louisiana states. The group company focuses on oilfield prospecting and exploitation， and at the same time sells and buys oilfield assets， offers investment and financing services， imports and exports oil equipment. Headquartered in the United States， Luca International Energy Group is present in Mainland China， Taiwan， Hong Kong， Japan， and Europe， with offices in San Francisco， Oakland， Los Angeles， Huston and Beijing.

Optimistic about the Chinese market and Luca’s Future

Luca International Energy Group set up a subsidiary company in Beijing in 2010， to tap into the Chinese market. Yang is optimistic about Luca’s market potential in China. In recent years， the country has developed from strength to strength， transitioning from a capitalimporting nation to an exporting one. It is playing an increasingly important role on the world stage. This is why Yang started to do business here. However， she noted that the Chinese have yet to fully understand the oil exploitation industry in the U.S.， and it takes time for them to appreciate the business model of Luca International Energy Group.

Yang Bingqing is not complacent about the great progress Luca has made. She has a clear vision of its future. She hopes that it goes public within five years. Yang told the reporter that Luca strives to be a leader in oil exploitation in the United States， and is committed to promoting exchanges between China and the States in oilfield development， offering the most professional service， and achieving win-win outcome with its clients.