$20 Trillion dollars of oil discovered in Australia

[xdrive]

Hate to be a spanner in the works but cooper pedy?

It sort of lacks one thing for shale oil recovery, water.

Water is provided to the town by pipeline.

rush for Australia begins now, India, japan, China and other energy hungry nations will invest massively in Australia.

They already are.

 

[for truth]

They already are.

good to know that the Australian economy is in healthy position, but i had heard some top level business men and some analysts warning that the cost factor may drive out investors from Australia, they specifically mentioned that Africa would eventually attract more investments in resources if Australia did not make the mining and extraction process cheaper.

 

[revojam]

wow congrulation to Aus then

 

[Syrian Lion]

Nice, congrats...
Question about the 20 trillion, is 20 trillion U.S dollar? Australian dollar? short scale? long scale? I'm assuming shot scale..

 

[Koovie]

Lucky guys ^^

 

[AUz]

lol..nothing big...it is SHALE GAS guys

Every third day, I'll here "Oh Canada is new KSA. Oh US has more oil than Arabs..Oh Australia is an oil giant now" blah blah blah..

and at the end..it comes out..oh its shale gas

Saudi Arabia, along with other Arabs, will remain the oil king of the planet for the forseeable future, Mashallah/Inshallah.

After that, world would go towards green energy. These news are just for fun.

Tell U.S to invest $ billions in shale gas...the next day, Saudi Arabia will lower its oil prices...and boom..the whole investment of US will go down the drain.

 

[indushek]

lol..nothing big...it is SHALE GAS guys

Every third day, I'll here "Oh Canada is new KSA. Oh US has more oil than Arabs..Oh Australia is an oil giant now" blah blah blah..

and at the end..it comes out..oh its shale gas

Saudi Arabia, along with other Arabs, will remain the oil king of the planet for the forseeable future, Mashallah/Inshallah.

After that, world would go towards green energy. These news are just for fun.

Tell U.S to invest $ billions in shale gas...the next day, Saudi Arabia will lower its oil prices...and boom..the whole investment of US will go down the drain.

We in the sub continent haven't developed properly because of lack of vision on future.

Look at the west, they realize in future the arab nations will run out of oil eventually so they are investing in alternative options. The developing world shouldn't miss the bus yet again.

 

[xdrive]

Nice, congrats...
Question about the 20 trillion, is 20 trillion U.S dollar? Australian dollar? short scale? long scale? I'm assuming shot scale..

I hope it's Australian dollar. The Australian dollar is worth more than the American

lol..nothing big...it is SHALE GAS guys

Every third day, I'll here "Oh Canada is new KSA. Oh US has more oil than Arabs..Oh Australia is an oil giant now" blah blah blah..

and at the end..it comes out..oh its shale gas

Saudi Arabia, along with other Arabs, will remain the oil king of the planet for the forseeable future, Mashallah/Inshallah.

After that, world would go towards green energy. These news are just for fun.

Tell U.S to invest $ billions in shale gas...the next day, Saudi Arabia will lower its oil prices...and boom..the whole investment of US will go down the drain.

Nothing wrong with shale oil.

 

[AUz]

Nothing wrong with shale oil.[/QUOTE]

Not feasible

 

[BATMAN]

Oh ok couldn't distinguish properly

No worries mate... difficult to distinguish Brunettes from Brunets.

 

[Rajaraja Chola]

I hope it's Australian dollar. The Australian dollar is worth more than the American



Nothing wrong with shale oil.

No offence buddy. There were many reports on Venezuela , Russia, China, USA and even India having a lot of shale oil. But the reality is Shale oil needs technology and they are available only with USA and some western countries. Moreover the cost of extracting Shale is costly, thats why Venezuela have kept that plan in abeyance.
And all the reserves cannot be extracted. If the reserve was some 100, u can extract maybe 60-70.

 

[Azazel]

Nothing wrong with shale oil.

Not feasible[/QUOTE]

It is now.Haven't you heard of the latest oil boom in US.

What the shale oil craze looks like from space, and why it matters - The Globe and Mail

 

[AUz]

It is now.Haven't you heard of the latest oil boom in US.

What the shale oil craze looks like from space, and why it matters - The Globe and Mail

No its not. That so-called Oil boom in Dakota only happened due to very high prices of oil in the international market...once the prices return to the normal ($70 to $100 per barrel), Shale can not compete commercially.

 

[xdrive]

But the reality is Shale oil needs technology and they are available only with USA and some western countries. [/B]

This is Australia, not some poor African country. We have the technology and if we didn't, we could develop it.

Moreover the cost of extracting Shale is costly,

It will cost 300m to setup, that money can be brought up easily in Australia.

And all the reserves cannot be extracted. If the reserve was some 100, u can extract maybe 60-70.

So say 13 trillion then?

 

[Azazel]

No its not. That so-called Oil boom in Dakota only happened due to very high prices of oil in the international market...once the prices return to the normal ($70 to $100 per barrel), Shale can not compete commercially.

Global energy demand is rising very fast driven by Asia.Even though there are some chances of some sudden drops of oil prices mostly because of the possible scenarios of oversupply,but that will only be temporary.The most likely scenario is oil prices will continue to hover around 100$ ranges for the next decade.ME countries can no longer increase supplies at will its a well known fact.Even if somehow crude oil could come down to 70$ ranges advancement in technology is making shale oil more and more affordable.So on a long term basis shale oil will increasingly play a big role.