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Author Topic: Trillions of dollars worth of oil found in Australian outback  (Read 1595 times)

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Offline Chris_

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Trillions of dollars worth of oil found in Australian outback
« on: January 24, 2013, 01:51:44 PM »
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Trillions of dollars worth of oil found in Australian outback

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.
Telegraph
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Offline thundley4

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #1 on: January 24, 2013, 03:34:24 PM »
Send in the environmentalists and none of it will be available.
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Offline Eupher

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #2 on: January 24, 2013, 03:38:07 PM »
Quote from: thundley4 on January 24, 2013, 03:34:24 PM
Send in the environmentalists and none of it will be available.

I'm sure there's some titmouse or furry arachnid whose only home on the planet is right in the middle of that region.

Pack up, boys, and go home. No oil to be gotten here.  :whatever:
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Offline JohnnyReb

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #3 on: January 24, 2013, 03:40:52 PM »
Quote from: Eupher on January 24, 2013, 03:38:07 PM
I'm sure there's some titmouse or furry arachnid whose only home on the planet is right in the middle of that region.

Pack up, boys, and go home. No oil to be gotten here.  :whatever:

Just tell them about all the free stuff the government will give them from all the taxes that will collected and they will personally choke the little bastards themselves.
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"America is like a healthy body and its resistance is threefold: its patriotism, its morality, and its spiritual life. If we can undermine these three areas, America will collapse from within."  Stalin

Offline Shooterman

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #4 on: January 24, 2013, 04:24:41 PM »
Coincidentally, a young man that grew up with my oldest grandson in Richmond, took a degree in Maritime Systems Engineering from Texas A & M in Galveston. He works for a big rig engineering firm in Corpus Christi. He spent several months in Australia, possibly in that region ( ?) before coming back to the states. A couple of weeks ago, he just got back, he made a quick trip to Dubai. Zach is only about 25, and doing absolutely wonderful. He was very instrumental in convincing Aus's sister, my oldest by 6 weeks grand daughter to go to TAMUG and study Maritime Systems Engineering.

I thought of Zach when I read this thread.
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Offline Ptarmigan

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #5 on: January 24, 2013, 05:36:40 PM »
Lots of oil yet to be tapped.
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Offline NHSparky

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #6 on: January 25, 2013, 12:50:30 AM »
Oil rigs need electricity too.  As do refineries, pumping stations, etc.

Yeah, the work sucks, the hours are long, but damn...the money, man...the money.
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Offline Skul

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #7 on: January 25, 2013, 12:53:40 AM »
Quote from: Eupher on January 24, 2013, 03:38:07 PM
I'm sure there's some titmouse or furry arachnid whose only home on the planet is right in the middle of that region.

Pack up, boys, and go home. No oil to be gotten here.  :whatever:
Leave my squirrels out of this you hater.  :-)
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Offline Texacon

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #8 on: January 25, 2013, 02:54:50 AM »
Who needs oil?  I ride the bus.

~ some DUmmie

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Offline Apple John Hointy

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #9 on: January 25, 2013, 03:09:39 PM »
Quote from: Chris_ on January 24, 2013, 01:51:44 PM
Telegraph

The money quote: "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."
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Offline thundley4

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #10 on: January 25, 2013, 03:23:36 PM »
Quote from: Apple John Hointy on January 25, 2013, 03:09:39 PM
The money quote: "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."

However, once they are allowed to open it up for drilling , if they ever are, new technologies and methods may make more of it available.  Just look at how much the available oil and gas has increased in the US due to new methods of getting it out of the ground.
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Offline JohnnyReb

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Re: Trillions of dollars worth of oil found in Australian outback
« Reply #11 on: January 26, 2013, 05:54:29 PM »
What? No need for "Road Warriors"?
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