Trillions of dollars worth of oil found in Australian outback

Discussion in 'General Global Topics' started by BecauseIKnow, Jan 24, 2013.

  1. BecauseIKnow
    Offline

    BecauseIKnow BANNED

    Joined:
    Aug 5, 2012
    Messages:
    11,294
    Thanks Received:
    434
    Trophy Points:
    0
    Ratings:
    +434
    Trillions of dollars worth of oil found in Australian outback - Telegraph

    The discovery in central Australia was reported by Linc Energy to the stock exchange and was based on two consultants reports, though it is not yet known how commercially viable it will be to access the oil.
    The reports estimated the company’s 16 million acres of land in the Arckaringa Basin in South Australia contain between 133 billion and 233 billion barrels of shale oil trapped in the region’s rocks.
    It is likely however that just 3.5 billion barrels, worth almost $359 billion (£227 billion) at today’s oil price, will be able to be recovered.
    The find was likened to the Bakken and Eagle Ford shale oil projects in the US, which have resulted in massive outflows and have led to predictions that the US could overtake Saudi Arabia as the world’s largest oil producer as soon as this year.
    Peter Bond, Linc Energy’s chief executive, said the find could transform the world’s oil industry but noted that it would cost about £200 million to enable production in the area.

    .............
     
  2. BecauseIKnow
    Offline

    BecauseIKnow BANNED

    Joined:
    Aug 5, 2012
    Messages:
    11,294
    Thanks Received:
    434
    Trophy Points:
    0
    Ratings:
    +434
    So when are we going to invade Australia? LOL....Australians run out, now you might feel with Iraq....:cool:
     
    Last edited: Jan 24, 2013
  3. tjvh
    Offline

    tjvh Senior Member

    Joined:
    May 10, 2012
    Messages:
    6,893
    Thanks Received:
    916
    Trophy Points:
    48
    Ratings:
    +916
    I wonder what animal they will use as an excuse not to drill? I don't think the Caribou response is going to fly in the outback.
     
  4. BecauseIKnow
    Offline

    BecauseIKnow BANNED

    Joined:
    Aug 5, 2012
    Messages:
    11,294
    Thanks Received:
    434
    Trophy Points:
    0
    Ratings:
    +434
    Huh?
     
  5. TNHarley
    Offline

    TNHarley Gold Member

    Joined:
    Sep 27, 2012
    Messages:
    26,576
    Thanks Received:
    4,090
    Trophy Points:
    280
    Ratings:
    +20,539
    The environazis will soon drop in and demand an end to this source of cheap energy.

    Of course if it turned out to be really expensive they'd endorse it and recommend subsidies.
     
    • Thank You! Thank You! x 1
  6. TNHarley
    Offline

    TNHarley Gold Member

    Joined:
    Sep 27, 2012
    Messages:
    26,576
    Thanks Received:
    4,090
    Trophy Points:
    280
    Ratings:
    +20,539
    EPA is always shutting shit down because of an insect, animal etc.
     
  7. techieny
    Offline

    techieny Conservative Supporting Member

    Joined:
    Jun 19, 2011
    Messages:
    2,553
    Thanks Received:
    586
    Trophy Points:
    48
    Ratings:
    +586
    outback jackoff!
     
  8. BecauseIKnow
    Offline

    BecauseIKnow BANNED

    Joined:
    Aug 5, 2012
    Messages:
    11,294
    Thanks Received:
    434
    Trophy Points:
    0
    Ratings:
    +434
    lol nice wording......:cool:
     
  9. BecauseIKnow
    Offline

    BecauseIKnow BANNED

    Joined:
    Aug 5, 2012
    Messages:
    11,294
    Thanks Received:
    434
    Trophy Points:
    0
    Ratings:
    +434
    Oh I see now.
     
    • Thank You! Thank You! x 1
  10. mememe
    Offline

    mememe BANNED

    Joined:
    Jun 12, 2009
    Messages:
    1,363
    Thanks Received:
    51
    Trophy Points:
    0
    Ratings:
    +51
    I wonder.......... is Australia a democracy?................
     

Share This Page