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#3137602 - 01/24/13 02:23 PM 233 billion barrels of oil discovered in Australia
Crappie Luck Moderator
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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.


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.

http://www.telegraph.co.uk/news/worldnew...an-outback.html

WUWT reader John V. Wright in his Tip and Notes submission writes:

This is a huge problem for PM Gillard. No one lives out there so all the usual garbage about shale oil extraction causing earthquakes and threatening people’s home will not wash. So now she has got to get thinking – how can I put the kibosh on this fantastic energy windfall for Australia without it being completely obvious that I am only interested in squeezing every last ‘green’ tax dollar out of the idiots who voted for me last time?
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#3138088 - 01/24/13 08:42 PM Re: 233 billion barrels of oil discovered in Australia [Re: Crappie Luck]
FLTENNHUNTER1
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Registered: 11/21/07
Posts: 16396
Loc: Tampa FL

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So we along with Australia (an ally for now) would have dang near as much oil as the middle east.

And this administration has declared war on fossil fuels. Perfect.
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#3138091 - 01/24/13 08:43 PM Re: 233 billion barrels of oil discovered in Australia [Re: FLTENNHUNTER1]
FLTENNHUNTER1
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We are on the verge of bankruptcy. Once we can no longer fund our military, someone in the real near future is going to kick our [censored] and take our gas.
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"The fore horse of this frightful team is public debt. Taxation follow that, and in its turn wretchedness and oppression."
--Thomas Jefferson

17.9 Trillion http://www.usdebtclock.org/

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#3138102 - 01/24/13 08:49 PM Re: 233 billion barrels of oil discovered in Australia [Re: FLTENNHUNTER1]
sgtwebb1
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Registered: 08/06/00
Posts: 10079
Loc: Ooltewah/Harrison TN, USA

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 Originally Posted By: FLTENNHUNTER1
We are on the verge of bankruptcy. Once we can no longer fund our military, someone in the real near future is going to kick our [censored] and take our gas.


Funny you said that.

I had a T shirt when I was a young soldier, around 1980-81, had a drawing of a soldier loaded for war, with a nuke symbol superimposed over a pic of Iran, said "Nuke their a-- and take their gas".

Of course, Reagan was President, and us boys felt pretty dang invincible in those days.
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#3138122 - 01/24/13 09:02 PM Re: 233 billion barrels of oil discovered in Australia [Re: sgtwebb1]
FLTENNHUNTER1
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Registered: 11/21/07
Posts: 16396
Loc: Tampa FL

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 Originally Posted By: sgtwebb1
 Originally Posted By: FLTENNHUNTER1
We are on the verge of bankruptcy. Once we can no longer fund our military, someone in the real near future is going to kick our [censored] and take our gas.


Funny you said that.

I had a T shirt when I was a young soldier, around 1980-81, had a drawing of a soldier loaded for war, with a nuke symbol superimposed over a pic of Iran, said "Nuke their a-- and take their gas".

Of course, Reagan was President, and us boys felt pretty dang invincible in those days.


\:D

Karma baby. Now WE have a Muslim Marxist running our country who wants to gut our military, 4 dead heroes in Benghazi, another terrorist attack in Mali that shows the world you can kill Americans without the risk of retaliation, that we are weaker than we ever have been, and we have a ton of oil.

I would think China and Russia smell the blood in the water. We need to make sure we keep our semi-autos, we might be needing them soon.
_________________________
"The fore horse of this frightful team is public debt. Taxation follow that, and in its turn wretchedness and oppression."
--Thomas Jefferson

17.9 Trillion http://www.usdebtclock.org/

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#3138646 - 01/25/13 09:59 AM Re: 233 billion barrels of oil discovered in Australia [Re: FLTENNHUNTER1]
Rebel
TnDeer Old Timer
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Registered: 03/16/99
Posts: 5369
Loc: East Tennessee USA

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Interesting info and good comments. I would have to add that since Australia has now confiscated a lot of it's citizens firearms and given it's proximity to China, the Aussies have far more to fear from China at the moment. If China should lay claim to Australia, we wouldn't have the military ability to help them.
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