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Shell has just floated the hull of the world's largest vessel out of its dry dock in South Korea. It's so massive that if you stood it up, it would be 1,601 feet tall, reaching higher into the sky than the Empire State Building. The vessel, called the Prelude, will actually be used more as a floating island than a ship. It won't be able to travel under its own power. Shell plans to tow it and anchor it about 300 miles off the coast of western Australia for 25 years. There, the 600,000-ton Prelude will serve as a , or LNG, facility, which lets the company tap into the natural gas deep at sea. The gas will then be chilled into a liquid, which makes the gas easier to store and ship.
BOTTOM LINE: Investing billions of dollars in new shale gas infrastructure f or domestic use is, at best, of limited value for a short period o f time if we put in place both a C O2 price and regulations to minimize methane leakage . Exporting gas vitiates ev en that limited value and so investing billions in LNG infra structure is, at best, a waste of resources better utilized for deploying truly low carbon energy. At worst, i t helps accelerates the world pa st the 2°C warming threshold into Terra incognita — a planet of amplifying feedbacks and multiple simultaneous catastrophic impacts .
It's the biggest find in 50 years and the media is completely ignoring it... It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale.
All told the recent discovery outside a sleepy Australian town contains more black gold than in all of Iran, Iraq, Canaa, or Venezuela. The current estimates of 233 billion barrels are just 30 billion barrels shy of the estimated reserves in all of Saudi Arabia.
jude11
So the "recent oil discoveries" which no one knew about just happens to be the best place to park this thing?
Truly the biggest coincidence in history,,,right?
moneymorning.com...
It's the biggest find in 50 years and the media is completely ignoring it... It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale.
All told the recent discovery outside a sleepy Australian town contains more black gold than in all of Iran, Iraq, Canaa, or Venezuela. The current estimates of 233 billion barrels are just 30 billion barrels shy of the estimated reserves in all of Saudi Arabia.
My guess?
This project was started long ago with knowledge that we were never going to be exposed to until all the deals were signed, sealed and delivered.
Peace
edit on 5-12-2013 by jude11 because: (no reason given)