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
5372 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.


oleyeller
Tennessee Fan
Down South
Member since Oct 2012
13065 posts
Online

re: The Biggest Oil Discovery In 50 years - Australian game changer edition
so gas prices back to .97?


Doc Fenton
LSU Fan
Member since Feb 2007
51087 posts

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


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TH03
Notre Dame Fan
Member since Dec 2008
102200 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


jrodLSUke
LSU Fan
Tigerdroppings Premium
Member since Jan 2011
6775 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition
The Aborigines are gonna rule the world!


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Yat27
New Orleans Saints Fan
Austin
Member since Nov 2010
4256 posts

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
LSU Fan
Member since Sep 2011
12564 posts

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
5372 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.


TheIndulger
LSU Fan
Member since Sep 2011
12564 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. It will be literally 10-20 years (maybe more)before its even close to being exploited properly.



And?


TH03
Notre Dame Fan
Member since Dec 2008
102200 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


ShoeBang
New Orleans Pelicans Fan
Member since May 2012
4677 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
LSU Fan
Member since Sep 2011
12564 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.


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


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MrBlue105
Navy Fan
chillin with the BWC - anaconda
Member since Apr 2013
6602 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition
Is it shale or clean and under caprock?


Greg09Ag
Texas A&M Fan
Third Coast yuh heeeeard
Member since Sep 2011
3168 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
24307 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
5372 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
LSU Fan
Downtown Scottsdale
Member since Oct 2007
79561 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
Notre Dame Fan
Member since Dec 2008
102200 posts

re: The Biggest Oil Discovery In 50 years - Australian game changer edition
it's oil shale


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 ?


lsu480
LSU Fan
Downtown Scottsdale
Member since Oct 2007
79561 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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