OZ: 20 Trillion Dollar Shale Oil Find (Australian Self reliance on Oil)

OZ: 20 Trillion Dollar Shale Oil Find (Australian Self reliance on Oil)

www.her aldsun.com.au

•Coober Pedy has between 3.5 billion and 233 billion barrels of oil
•Australia could change from oil importer to exporter

SOUTH Australia is sitting on oil potentially worth more than $20 trillion, independent reports claim - enough to turn Australia into a self-sufficient fuel producer.

(visit the link for the full news article)

Brisbane company Linc Energy yesterday released two reports, based on drilling and seismic exploration, estimating the amount of oil in the as yet untapped Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to 233 billion barrels of oil.
At the higher end, this would be "several times bigger than all of the oil in Australia", Linc managing director Peter Bond said.
This has the potential to turn Australia from an oil importer to an oil exporter.
"If it comes in the way the reports are suggesting, it could well and truly bring Australia back to (oil) self-sufficiency," Mr Bond said.

This is Big News for Australia. And for the economy.

It looks like the only way Australia will be able to get its budget back into surplus.

It will also make us far more attractive to the Chinese as a target given their comments and threats yesterday.

Bottom line is, will the average person see any benefit from this? Will we see our petrol prices fall at all? I doubt it.

Supposedly we have a couple hundred years worth of natural Gas that we could currently be powering all our vehicle on for a fraction of the cost of petrol but we dont.

I think this will be a good way for the government to increase its spending on the military rather than further infrstructure to better this nation.

What do you all think? Good news or not?

www.her aldsun.com.au
(visit the link for the full news article)

The government there will figure a way to exploit it and the people will benefit little from it. Fuel will probably wind up costing more to Australians in the end.

Originally posted by Melbourne_Militia

Brisbane company Linc Energy yesterday released two reports, based on drilling and seismic exploration, estimating the amount of oil in the as yet untapped Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to 233 billion barrels of oil.
At the higher end, this would be "several times bigger than all of the oil in Australia", Linc managing director Peter Bond said.
This has the potential to turn Australia from an oil importer to an oil exporter.
"If it comes in the way the reports are suggesting, it could well and truly bring Australia back to (oil) self-sufficiency," Mr Bond said.

This is Big News for Australia. And for the economy.

It looks like the only way Australia will be able to get its budget back into surplus.

It will also make us far more attractive to the Chinese as a target given their comments and threats yesterday.

Bottom line is, will the average person see any benefit from this? Will we see our petrol prices fall at all? I doubt it.

Supposedly we have a couple hundred years worth of natural Gas that we could currently be powering all our vehicle on for a fraction of the cost of petrol but we dont.

I think this will be a good way for the government to increase its spending on the military rather than further infrstructure to better this nation.

What do you all think? Good news or not?

www.her aldsun.com.au
(visit the link for the full news article)

I really agree with you on this: "Bottom line is, will the average person see any benefit from this? Will we see our petrol prices fall at all? I doubt it."

Because... in current market conditions gasoline prices should be much much lower according to economics, but instead prices seem fixed.

Also, Australia should watch their back so they aren't labeled a terrorist state or possibly have WMDs. Now we know they have oil, and everyone knows that countries with oil are likely to be invaded and bombed for their freedom

Yup,

I'm thinking China will be all over this. A pretext for War.

Or will it be the US?

Maybe OZ has some Taliban hiding in the same area as the oil and the US really needs to go in to protect OZ from the boogeymen. And then stay for about 100 years...just to make sure all is well and safe.

Damn...The citizens don't have guns over there do they? hmmmm...

Peace

Peace

reply to post by Melbourne_Militia


Mate, you know as well as I know that the big man will figure out a way of turning this into a win for corporate Australia and somehow us regular citizens will miss out.
Because of other deals with Opec nations and the fact that we have to trade with them, I doubt this will ever become a reality.
We need certain commodities from China, they need commodities from somewhere else, so on and so forth.
We owe X amount to this bank who in turn owes another bank, so on and so forth.
The biggest players in the world pull the strings and rig the game so small countries such as Australia can only
get as far as they let us. They created the game, and we play their rules. Can you see the big oil companies let us produce our own oil and export it while they take a loss. Not a chance.

reply to post by Melbourne_Militia


This is good indeed. Shale oil is the only viable alternative to the crude we're using now, and given the mass of resources we've discovered in the Americas and now Australia, I think this will give hope toward pushing us off our dependence on crude oil.

Originally posted by Melbourne_Militia

OZ: 20 Trillion Dollar Shale Oil Find (Australian Self reliance on Oil)

www.her aldsun.com.au

•Coober Pedy has between 3.5 billion and 233 billion barrels of oil
•Australia could change from oil importer to exporter

SOUTH Australia is sitting on oil potentially worth more than $20 trillion, independent reports claim - enough to turn Australia into a self-sufficient fuel producer.

(visit the link for the full news article)

Ah, shale oil - one of the most common wartime "emergency" sources of crude oil. Up until the 1940s Australia used to have quite a robust shale oil industry, but the target product was kerosene for lighting and heating rather than crude. Old tech. very old tech indeed and it's a solid indicator that all that peak oil nonsense no one in the media talks about anymore was most likely dead on the money.

Australians won't see any lowering of domestic fuel prices. All of our oil goes into the big bucket of oil administered out of Singapore - along with oil from Malaysia (Sarawak and Sabah), Indonesia (Kalimantan), Brunei, and soon from the Timor Sea. Petroleum products such as gasoline/petrol, diesel and natural gas are then sold at whatever rigged price the oil cartel feels is "fair". No, our oil prices will continue their steady rise. This project will do nothing for the Australian people, but will make corporations very much richer.

Originally posted by Southern Guardian
reply to post by Melbourne_Militia

 

This is good indeed. Shale oil is the only viable alternative to the crude we're using now, and given the mass of resources we've discovered in the Americas and now Australia, I think this will give hope toward pushing us off our dependence on crude oil.

Shale oil - crude oil there's no difference. What it means is that all endeavors to find alternate ways to fuel vehicles will be put back on the shelf to rot and pollution of the air we breathe will continue unabated.

Originally posted by Shema
Shale oil - crude oil there's no difference.

yes there are:

Oil shale is an inorganic rock that contains a solid organic compound known as kerogen. The term "oil shale" is a misnomer because kerogen isn't crude oil, and the rock holding the kerogen often isn't even shale.

Conventional liquid crude oil is organic material--plant and animal remains--exposed to heat and pressure in the absence of oxygen over millions of years within the earth. Kerogen is among the first stages in the process of petroleum generation from organic matter; bitumen--the hydrocarbon targeted in oil sands projects--is formed from kerogen and represents a later stage in the process.


What it means is that all endeavors to find alternate ways to fuel vehicles will be put back on the shelf to rot and pollution of the air we breathe will continue unabated.

seekingalpha.com...

I agree with your position that viable and clean alternatives will be put in the back burner, it's a shame, however right now we need an alternative that people will get on board with, and right now clean alternatives haven't made their case clear enough to the public. If shale oil, a non-renewal alternative, will allow us to cut down those costs, then so be it.

Sounds like Amerikkka needs to go to Australia to introduce a better form of democracy, and then stay there for the next 20 years, while siphoning off the oil.

If I was China, I'd be salivating all over the oil fields there and justify a reason to invade.

Either way you're screwed for letting the world know of these reserves

Every country should pay millions to set up mines and docks and it's a grab bag..
free fuel and energy for every nation!

IT MIGHT BE AUSTRALIA BUT BY GOLLY IT'S OUR PLANET!!!

Originally posted by dominicus
Sounds like Amerikkka needs to go to Australia to introduce a better form of democracy, and then stay there for the next 20 years, while siphoning off the oil.

If I was China, I'd be salivating all over the oil fields there and justify a reason to invade.

Either way you're screwed for letting the world know of these reserves

Thats was concerns me aswell.....might have been better off for them to shut their mouths and keep it a secret.

We dont need to know where the oil comes from nor does anyone else....if the country profits in the meantime then a bonus.

As others have mentioned, average person wont benefit at all, if very little. But the strategic benefit of this find should have been kept under the table.

For example....WW3 scenario or the Mideast all turns to crap.....we have a supply. no one needs to know where its coming from.

Announcing to the world we have this is like inviting China to invade IMO....

"Look you Commies, we have abundant, Uranium, Iron, Nickel, Ore, Natural Gas, and now oil....come and take it if you dare!"

Such potential for this country to benefit and grow in the hands of idiots!

There's already a thread on this.

www.abovetopsecret.com...

Invade Australia? With our allies the UK, US, NZ, Canada good luck with that.

Originally posted by JimTSpock
There's already a thread on this.

www.abovetopsecret.com...

Yes there is.

But this one is better.

Australia still answers to the Queen behind the scenes, therefore, NO there will not be a US attack in the near or distant future. We are part of the same empire, it makes no sense.

Now maybe Australia can become the new Saudi Arabia.

Invading this country is not as easy as you make out, it is big, and it is dry.I know that this wont save us from a determined invasion but wouldnt it just be easier to buy the oil?

The average Aussie can profit from this if they can set up shop in Cooper Pedy. There will be a population boom and now might be a good time to open a cafe or supermarket or shoe shop or jewelry shop. There will be many fly-in-fly-out miners but there will be a bigger population. Another way is to start another truck courier or freight line specialising in Cooper Pedy.

A few thoughts came to my head:

1. More cashhhhhhhhhhhhhhhhhhhhhhhhhhh and job opportunities for me.

2. Been to Coober Pedy. You can stand on the top of a tailing hill, and the land is completely flat and bare in all directions.

3. Oil is a resource like many others, it would be sold in the same way our other exports are, which help our own economy dramatically and actually do benefit the average Australian.

4. Also why exactly would we keep it quiet? Keeping it quiet would mean not drilling. That means no benefits. Because drilling and keeping it quiet are mutually exclusive. People notice drilling, and countries don't magically get an oil supply without other people noticing.

5. OF COURSE people need to know where there oil comes from. If it's coming from the middle east there are pretty big implications from that. If it's coming from Australia there are also pretty big implications from that too.

reply to post by Melbourne_Militia

It will also make us far more attractive to the Chinese as a target given their comments and threats yesterday.

You might want to learn to speak Mandarin, if you haven't already.

Good luck.

Wow. Talk about the lucky country.

Maybe America should be looking for something like this so they can pay their bills.