The Biggest Oil Discovery In 50 years - Australian game changer edition - Page 2 - TigerDroppings.com

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OFWHAP
LSU Fan
Member since Sep 2007
5044 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

Not in production yet. They just discovered it



And their reserve estimates range from 3.5-billion barrels to 233-billion barrels. I always feel as if these estimates are a bit over-optimistic.






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oleyeller
Tennessee Fan
Down South
Member since Oct 2012
8827 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


so gas prices back to .97?





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Doc Fenton
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition








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TH03
Texas A&M Fan
Member since Dec 2008
94622 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

there is absolutely zero o&g infrastructure in most parts of Australia.


lol dumbass.

ever heard of BHP Billiton?

it's only the world's largest mining company



This post was edited on 7/25 at 4:07 pm


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jrodLSUke
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Member since Jan 2011
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


The Aborigines are gonna rule the world!





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Yat27
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Austin
Member since Nov 2010
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

They make triple the workers here because it costs triple to live there. It's crazy expensive and they tax the frick out of you. Something like 50%



This. Prices there are insane. I have family that lives there. Their minimum wage is around $16, but that doesn't mean much when a 20 pack of Coke costs $25.



This post was edited on 7/25 at 4:10 pm


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TheIndulger
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Member since Sep 2011
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

233 billion barrels





I gotta get in on some of this action






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OFWHAP
LSU Fan
Member since Sep 2007
5044 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

so gas prices back to .97?



As of now, oil recovered from shale deposits requires high oil prices to remain economically feasible.






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TheIndulger
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

there is absolutely zero o&g infrastructure in most parts of Australia. It will be literally 10-20 years (maybe more)before its even close to being exploited properly.



And?






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TH03
Texas A&M Fan
Member since Dec 2008
94622 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

And their reserve estimates range from 3.5-billion barrels to 233-billion barrels. I always feel as if these estimates are a bit over-optimistic.


excuse them for trying to see something 10k feet below them using radio waves and shit






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ShoeBang
New Orleans Pelicans Fan
Member since May 2012
4617 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


and people say we are running out of oil.

frick them.






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TheIndulger
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Member since Sep 2011
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

And their reserve estimates range from 3.5-billion barrels to 233-billion barrels. I always feel as if these estimates are a bit over-optimistic.


How is that over-optimistic? That is almost like a 70 fold range






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MrBlue105
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


Is it shale or clean and under caprock?





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Greg09Ag
Wisconsin Fan
Third Coast yuh heeeeard
Member since Sep 2011
2976 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


It'll be awhile before they properly geosurvey, sell the data, get people/materials, drill, capture, transport, etc. Still pretty awesome. Specially since I'm in the refining industry. You drill it. We sell it.





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Sid in Lakeshore
LSU Fan
Member since Oct 2008
21954 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

oleyeller


quote:

South Australian Mining Minister Tom Koutsantonis says it is much too early to say if the reserve can be profitably tapped.






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OFWHAP
LSU Fan
Member since Sep 2007
5044 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

excuse them for trying to see something 10k feet below them using radio waves and shit



My reasoning for saying what I said is that people in this thread are treating the 233 billion barrels as if they're proven reserves.






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lsu480
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Downtown Scottsdale
Member since Oct 2007
70205 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

How long before we declare war on them for having WOMD?


Truth!






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TH03
Texas A&M Fan
Member since Dec 2008
94622 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


it's oil shale





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thedice20
New Orleans Saints Fan
Member since May 1926
Member since Aug 2008
7550 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

lol dumbass.

ever heard of BHP Billiton?

it's only the world's largest mining company



scuse me bro? and by bro i mean never my bro, phaggot.


I only had an hour conversation with someone who works for the Australian Dept. of Energy and Resources about this very issue they are having.

Who gives a frick about BHP Billiton ?






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lsu480
LSU Fan
Downtown Scottsdale
Member since Oct 2007
70205 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

It will be literally 10-20 years (maybe more)before its even close to being exploited properly.


Bull shite. If there is really that much oil there it's gonna be "exploited properly" ASAP!






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