Gipper
Well-Known Member
I wonder if the land-down-under is infected with foolish liberal enviro whackos like America.
Trillions of dollars worth of oil found in Australian outback
Up to 233 billion barrels of oil has been discovered in the Australian outback that could be worth trillions of dollars, in a find that could turn the region into a new Saudi Arabia.
An old opal mining truck marks the entrance to the opal mining town of Coober Pedy situated close to Arckaringa Basin Photo: REX FEATURES
By Jonathan Pearlman, Sydney2:30PM GMT 24 Jan 2013
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.
http://www.telegraph.co.uk/news/wor...worth-of-oil-found-in-Australian-outback.html