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$20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Importer 

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  #1  
Old 01-23-2013, 01:13 PM
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$20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Importer

http://mobile.news.com.au/business/c...-1226560401043

SOUTH Australia is sitting on oil potentially worth more than $20 trillion, independent reports claim - enough to turn Australia into a self-sufficient fuel producer.

Brisbane company Linc Energy yesterday released two reports, based on drilling and seismic exploration, estimating the amount of oil in the as yet untapped Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to 233 billion barrels of oil.

At the higher end, this would be "several times bigger than all of the oil in Australia", Linc managing director Peter Bond said.

This has the potential to turn Australia from an oil importer to an oil exporter.

"If it comes in the way the reports are suggesting, it could well and truly bring Australia back to (oil) self-sufficiency," Mr Bond said.

State Mineral Resources Development Minister Tom Koutsantonis said there were exciting times ahead for SA's resources industry.

"Shale gas and shale oil will be a key part to securing Australia's energy security now and into the future," he said.


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Old 01-23-2013, 03:15 PM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

great, more pollution.

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Old 01-23-2013, 11:00 PM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

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Old 01-23-2013, 11:47 PM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

Australia, this be very good for your economy & very bad for your ecosystem. What are your feelings??

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Old 01-24-2013, 02:00 AM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

Wow, looks like im going to SA for work.

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Old 01-24-2013, 02:05 AM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

Lets do the right thing for once. Instead of invading them to steal their oil, we should invade them to steal their unique wildlife. Or invade them to protect their wildlife? I don't know. Not stealing seems a bit too counterintuitive. Either way, lets make sure they don't murder their ecosystem for something thats bad for the world

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Old 01-24-2013, 03:52 AM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

oh they are bound to fuck up some where along the line..

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Old 01-24-2013, 04:17 AM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

And they'll probably raise our petrol prices instead of reduce them.

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Old 01-24-2013, 06:12 AM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

Congrats, Australia!

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Old 01-24-2013, 09:48 AM
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Re: $20 Trillion Oil Basin Discovered in Australia Set to Turn the Country from Impor

Waits for america to invade us for suspected weapons of mass destruction.

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