Not Logged In Log In   Sign Up   Points Leaders
Follow Us    5:12 PM

GasBuddy News Article

64
votes
Shale oil worth "trillions" discovered in Australia

GasBuddy Blog -- Look what they've found 'down under'!

The Telegraph is reporting that 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.

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 also possible however that just 3.5 billion...


Read the Full Article

Submitted Jan 31, 2013 By: PD
Category: GasBuddy Official Blog > Topics Add to favorite topics   Post new topicPost New Topic
Author Topic: Shale oil worth "trillions" discovered in Australia Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
moose21040
Veteran Author Baltimore

Posts:256
Points:370,240
Joined:Jan 2011
Message Posted: Feb 9, 2013 6:40:43 PM

hopefully it will lower the US gas prices
Profile Pic
phpearso
Veteran Author Indiana

Posts:295
Points:659,075
Joined:Mar 2004
Message Posted: Feb 9, 2013 12:50:07 AM

Anyone think it will help us get cheaper gasoline?
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,159
Points:2,256,215
Joined:Nov 2008
Message Posted: Feb 4, 2013 3:59:12 AM

doubtful that the Aborigines will see anything of that wealth. Just like in the US...
Profile Pic
TheBigJukebox
Rookie Author Anchorage

Posts:4
Points:205
Joined:Feb 2013
Message Posted: Feb 4, 2013 3:43:09 AM

Its to bad that the companies that hire for the jobs that these finds create only hire a few type of people because there are a lot of job seekers that would like to be hired that probably wont qualify.
Profile Pic
poppa09
Rookie Author Cleveland

Posts:54
Points:700,955
Joined:May 2009
Message Posted: Feb 3, 2013 7:56:02 PM

That's a lot of black gold either way you see it.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,159
Points:2,256,215
Joined:Nov 2008
Message Posted: Feb 3, 2013 6:11:17 AM

if the Aussies are smart, they look first, then drill. But, in today's world, money is more important.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,159
Points:2,256,215
Joined:Nov 2008
Message Posted: Feb 3, 2013 6:10:13 AM

Watch and learn from the side effects that has (as evidenced in the US)...
Profile Pic
nb52
Champion Author Grand Rapids

Posts:10,494
Points:2,186,995
Joined:Nov 2008
Message Posted: Feb 2, 2013 7:15:20 PM

Good for Australia!
Profile Pic
dcoxdcox44
Champion Author New Hampshire

Posts:1,111
Points:594,145
Joined:Aug 2011
Message Posted: Feb 2, 2013 8:23:36 AM

20 points!
Profile Pic
unemployed58
Veteran Author Montreal

Posts:345
Points:88,320
Joined:Oct 2012
Message Posted: Feb 1, 2013 9:25:58 PM

$$$$$$$$$$$$$$$$$$$$$$$
Profile Pic
msf1527
Champion Author San Bernardino

Posts:3,151
Points:768,095
Joined:Nov 2012
Message Posted: Feb 1, 2013 8:49:41 PM

Start drilling...
Profile Pic
Marson
Champion Author Scranton

Posts:11,597
Points:2,711,070
Joined:Oct 2006
Message Posted: Feb 1, 2013 8:40:58 PM

OK.
Profile Pic
dlemma
Champion Author Wyoming

Posts:6,650
Points:2,193,125
Joined:Feb 2008
Message Posted: Feb 1, 2013 6:51:04 PM

go get it!
Profile Pic
jesanfo
Sophomore Author Oklahoma

Posts:243
Points:170,825
Joined:Feb 2010
Message Posted: Feb 1, 2013 1:03:33 PM

It's important to remember that these are estimates and of course as the article states "it is not yet known how commercially viable it will be to access the oil".
Profile Pic
CPGas1815
Champion Author Michigan

Posts:6,060
Points:1,110,190
Joined:Apr 2008
Message Posted: Feb 1, 2013 10:47:41 AM

I am still skeptical about the so called shale boom. Polluting our planet by the global polluters could end life as we now know it.
Profile Pic
Costello
Champion Author South Dakota

Posts:3,048
Points:1,756,210
Joined:Jan 2007
Message Posted: Feb 1, 2013 10:37:38 AM

Good for the Aussies!!!
Profile Pic
CapriceWagon
Champion Author Washington

Posts:1,466
Points:1,017,620
Joined:Feb 2008
Message Posted: Feb 1, 2013 10:28:57 AM

I've read this more than once
Profile Pic
ILANGE9
Champion Author Illinois

Posts:10,325
Points:2,232,015
Joined:Sep 2008
Message Posted: Feb 1, 2013 10:27:14 AM

Repeat
Profile Pic
LuckyD43
Champion Author Long Island

Posts:42,750
Points:2,796,555
Joined:Apr 2005
Message Posted: Feb 1, 2013 10:16:55 AM

Read this and commented yesterday.
Profile Pic
aalix
Champion Author Orange County

Posts:25,857
Points:4,742,595
Joined:Aug 2001
Message Posted: Feb 1, 2013 10:15:17 AM

So what's going to the land if you extract the shale oil?
Profile Pic
Lilybird1212
Veteran Author Idaho

Posts:407
Points:459,090
Joined:Oct 2012
Message Posted: Feb 1, 2013 10:13:16 AM

Australians - don't let them destroy your land.
Profile Pic
ace12012
Champion Author Phoenix

Posts:3,812
Points:789,540
Joined:Apr 2012
Message Posted: Feb 1, 2013 10:09:33 AM

read it before.
Profile Pic
rippertoo
Champion Author Tacoma

Posts:8,510
Points:1,787,535
Joined:Jan 2010
Message Posted: Feb 1, 2013 10:07:58 AM

One more time.
Profile Pic
bluebird1
Champion Author Toronto

Posts:18,468
Points:3,728,925
Joined:May 2004
Message Posted: Feb 1, 2013 10:07:49 AM

Slightly recycled news ...so where do we stand on 'Peak Oil' now????
Profile Pic
Bud122CA
Champion Author California

Posts:9,702
Points:2,218,645
Joined:Jul 2008
Message Posted: Feb 1, 2013 10:07:38 AM

Good for Australia and I'm sure there is a lot more to yet be discovered.
Profile Pic
firechief
Champion Author New York

Posts:4,337
Points:2,601,100
Joined:Mar 2004
Message Posted: Feb 1, 2013 10:06:24 AM

yesterdays story, good for them
Profile Pic
filcut
Champion Author Anchorage

Posts:1,350
Points:1,854,880
Joined:Jun 2005
Message Posted: Feb 1, 2013 10:06:17 AM

Where is Lucy Lawless when they need her?
Profile Pic
nehemiah
Champion Author Portland

Posts:6,366
Points:1,443,440
Joined:Jul 2007
Message Posted: Feb 1, 2013 10:05:00 AM

but the prices keeps going up
Profile Pic
JaegerWMeister
Champion Author Twin Cities

Posts:1,314
Points:638,180
Joined:Mar 2012
Message Posted: Feb 1, 2013 10:03:28 AM

Old
Profile Pic
SoutheastdannyB
All-Star Author Grand Rapids

Posts:590
Points:710,730
Joined:Jul 2007
Message Posted: Feb 1, 2013 10:01:45 AM

wow, "trillions".
Profile Pic
Taurus1
Champion Author Ohio

Posts:5,287
Points:2,216,680
Joined:Apr 2006
Message Posted: Feb 1, 2013 10:01:41 AM

Will Australia sink after they suck out all the shale oil?
Profile Pic
ntass1
Champion Author Edmonton

Posts:6,539
Points:1,374,355
Joined:May 2011
Message Posted: Feb 1, 2013 9:58:06 AM

tap it. sure it will years before they the build refiners and pipelines to transport it.and pass environmental and safety regulations in place.
Profile Pic
jnseyeongas
Champion Author Milwaukee

Posts:2,840
Points:1,122,630
Joined:Feb 2011
Message Posted: Feb 1, 2013 9:57:11 AM

Go for it
Profile Pic
Jeepergeo
Champion Author San Bernardino

Posts:1,400
Points:895,230
Joined:Jan 2011
Message Posted: Feb 1, 2013 9:52:39 AM

Tap it.
Profile Pic
NanookAK
Champion Author Anchorage

Posts:10,106
Points:2,086,615
Joined:Nov 2007
Message Posted: Feb 1, 2013 9:52:26 AM

Old news.
Profile Pic
sdiddydaddy
Champion Author Grand Rapids

Posts:1,178
Points:890,460
Joined:Jan 2012
Message Posted: Feb 1, 2013 9:52:19 AM

Good for Australia and the rest of the world.
Profile Pic
justbill647
Champion Author Baton Rouge

Posts:2,957
Points:791,860
Joined:Jun 2012
Message Posted: Feb 1, 2013 9:52:18 AM

We're running out of space to store crude and the price for oil and gas keeps going up.
Profile Pic
fedupMN
Champion Author Twin Cities

Posts:5,342
Points:1,112,115
Joined:Mar 2011
Message Posted: Feb 1, 2013 9:52:10 AM

Seems to me they have not "found" anything, it is just based on some consultants report. They still have to get it out of the ground.
Profile Pic
CheckitoutGuy
Champion Author San Diego

Posts:1,328
Points:786,455
Joined:Mar 2008
Message Posted: Feb 1, 2013 9:49:28 AM

Nice!
Profile Pic
Wierbe
Champion Author Cincinnati

Posts:6,406
Points:1,752,845
Joined:Apr 2006
Message Posted: Feb 1, 2013 9:49:22 AM

A long way to ship, but may be worth it.
Profile Pic
eaglev
Champion Author Oklahoma City

Posts:4,001
Points:937,155
Joined:Jul 2005
Message Posted: Feb 1, 2013 9:43:44 AM

We do have a good aliance with Austraila, maybe we can quit going thru the middle east.
Profile Pic
tomklo
Champion Author Fort Worth

Posts:3,171
Points:3,195,860
Joined:Jul 2002
Message Posted: Feb 1, 2013 9:43:23 AM

good
Profile Pic
Black Wagon
Champion Author Illinois

Posts:9,841
Points:2,373,830
Joined:Mar 2004
Message Posted: Feb 1, 2013 9:42:42 AM

That will probably create some jobs too.
Profile Pic
ItisAJeepThing
Champion Author Tucson

Posts:36,590
Points:2,797,850
Joined:Oct 2006
Message Posted: Feb 1, 2013 9:42:20 AM

Good for the Aussies and good for meeting the increasing energy demands of the whole world.
Profile Pic
AriesMMD
Champion Author Sacramento

Posts:2,960
Points:970,500
Joined:Dec 2011
Message Posted: Feb 1, 2013 9:40:08 AM

Prices at the pump won't go down. It costs more to extract the deep shale deposits.
Profile Pic
GGAlbo
Champion Author Detroit

Posts:4,532
Points:2,502,485
Joined:Sep 2006
Message Posted: Feb 1, 2013 9:38:05 AM

Where are the Speculators, what all this new oil all over the World, The price of oil should hit $90 a barrel within the next ten years!!!
Profile Pic
gabbygusIN
Champion Author Indiana

Posts:9,976
Points:2,205,875
Joined:Oct 2008
Message Posted: Feb 1, 2013 9:37:54 AM

Good for them
Profile Pic
CptnCanada
Champion Author Saskatoon

Posts:9,196
Points:1,385,685
Joined:Jun 2008
Message Posted: Feb 1, 2013 9:37:28 AM

Not a living thing within a thousand miles of there and I bet the greens will still try and stop it
Profile Pic
RichFWA
Champion Author Tacoma

Posts:2,247
Points:557,445
Joined:Mar 2011
Message Posted: Feb 1, 2013 9:37:13 AM

Drill and get it on the market.
Profile Pic
REVLAW
Champion Author San Antonio

Posts:13,202
Points:2,652,925
Joined:Jul 2007
Message Posted: Feb 1, 2013 9:36:30 AM

But this discovery will not dampen the greed of the profiteers.
Post a reply Back to Topics