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

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jeff5891
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The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

Australia, a discovery has been made which could rock the world. Some are calling it the biggest discovery of oil in 50 years. Earlier this year, a company called Linc Energy announced that tests had revealed that there was a minimum of 3.5 billion barrels of oil equivalent sitting under more than 65,000 square kilometres of land that it owns in the Arckaringa Basin. But that is the minimum number. It has been projected that there could ultimately be up to 233 billion barrels of recoverable oil in the area. If that turns out to be accurate, the oil sitting under that land is worth approximately 20 trillion dollars, and it would be roughly equivalent to the total amount of oil sitting under the sands of Saudi Arabia. In essence, it would be a massive game changer.


LINK

Do I give a frick if it's Germans? No



This post was edited on 7/25 at 3:54 pm



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stout
Arizona Fan
Sportsman's Paradise
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


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





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Doc Fenton
Yale Fan
Member since Feb 2007
50726 posts

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


Australia = 2nd highest wealth per capita in the world for any decently large country, mostly from mineral wealth.

Looks like it just got higher.

I fricking love Aussies.






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TH03
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In Darth's Head
Member since Dec 2008
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

and it would be roughly equivalent to the total amount of oil sitting under the sands of Saudi Arabia. In essence, it would be a massive game changer.


like the bakken was?







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colorchangintiger
LSU Fan
Thomas Sowell
Member since Nov 2005
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


I saw it this morning. I wish there was a more credible site with a story on this besides Men's News Daily





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colorchangintiger
LSU Fan
Thomas Sowell
Member since Nov 2005
21399 posts

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




quote:

like the bakken was?


quote:

If the 233 billion barrel figure is accurate (and some have even suggested that the true number could actually be 400 billion barrels), that would make it nearly 10 times larger than the Bakken formation, 17 times larger than the Marcellus discovery and 80 times larger than the Eagle Ford deposit down in Texas.






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GeauxxxTigers23
USA Fan
TeamBunt General Manager
Member since Apr 2013
21019 posts

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


I'm getting in the O&G industry. Literally everything about Australia is better than the ME.





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colorchangintiger
LSU Fan
Thomas Sowell
Member since Nov 2005
21399 posts

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


Australia still has this guy:



ETA: And kids like these:




This post was edited on 7/25 at 3:59 pm


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jeff5891
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Member since Aug 2011
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


LINK

From Australia abc






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Bunk Moreland
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Member since Dec 2010
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


Two words. Flow rate. What is it?





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Doc Fenton
Yale Fan
Member since Feb 2007
50726 posts

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


At one point Australia had the highest average salary for offshore oil workers in the world. Something like $160k per year or something.





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GeauxxxTigers23
USA Fan
TeamBunt General Manager
Member since Apr 2013
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


quote:

Australia still has this guy:




So can we invade. I'm tired of fighting wars in shitholes anyway.






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jeff5891
New Orleans Saints Fan
Member since Aug 2011
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re: The Biggest Oil Discovery In 50 years - Australian game changer edition


Not in production yet. They just discovered it





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TigerStripes06
LSU Fan
SWLA
Member since Sep 2006
25041 posts

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


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%





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Doc Fenton
Yale Fan
Member since Feb 2007
50726 posts

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


That's island prices for you.





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TH03
Notre Dame Fan
In Darth's Head
Member since Dec 2008
91497 posts

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


you're missing the point I was making.





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thedice20
New Orleans Saints Fan
Member since May 1926
Member since Aug 2008
7543 posts

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


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.







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TejasHorn
Texas Fan
High Plains Driftin'
Member since Mar 2007
3390 posts

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


They'll be importing cheap asian labor to work these fields.





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The Mick
LSU Fan
Member since Oct 2010
21677 posts

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


Holy shite... I wish I was Mr Linc





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Volvagia
LSU Fan
Baton Rouge
Member since Mar 2006
40371 posts

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


But peak oil was a decade ago





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