20 Trillion dollar oil well in australia?

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posted on Jan, 24 2013 @ 06:44 AM
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Shale oil is currently borderline economic to recover and the environmental costs (pollution) are huge. There was a large operation of this type in the Wolgan Valley (Blue Mountains NSW near Wallerawang) was called the 'federal Oil Company or something like that was operating in the early 1900s but has long since been abandoned as the profits just weren't there when compared to oil from more free-flowing overseas sources. The ruins are fascinating to browse through still but the best part of a century has not allowed nature to fully heal the damage done. Oil sands as in Canada and shale oil deposits are a last ditch source of fuel when traditional crude oil reserves are down enough to jack the price up significantly, or if cataclysm, global conflict etc prevents international shipping of crude. I believe Germany fueled the WW2 campaign from their own shale oil deposits.

This reserve, if it proves to be as rich as imagined, should be left as is until there's no other option but to exploit it. If we keep digging this island up and shipping it out for peanuts there'll be nothing left.




posted on Jan, 24 2013 @ 08:39 AM
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Hi There,

Ok paranoid but interesting

1. Australia has come across a precious resource

2. Global powers invades for precious resources.

To my knowledge fuel is dwindling and becoming an ever more increasing pressure on global economy.

If the implied has no bearing, I would hope Australia can capitalize on the export using this new boom to create Prosperity and Wealth..

They could moderate the growth by tightening immigration and also Research and develop a sustainable society

Could be the greatest thing that Country has ever seen.



. Lets face it cynical or not this oil is getting used.
edit on 24-1-2013 by ResonofTheSeason because: (no reason given)



posted on Jan, 24 2013 @ 11:28 AM
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reply to post by DaRAGE
 


You still don't get it, do you? Sensationalism is a valid way to sell your stuff and get more money for further research, unfortunately, it doesn't exist now and likely won't in 5, 10 or for that matter 50 years, it's like thermonuclear fusion, always 40 years in the future and no end in sight. News flash: it already works and produces mostly hard (fast) neutrons... too bad the the only known applications for these are fissioning Uranium 238 in 'H'-bombs, transmutation and maybe materials testing.

You would let the oil sit and wait for something else that is uncertain, and while i'm not sure you understand the risk involved, i'm certain you can't speak for those who are. Petroleum, you see can be used for much more than fuel.





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