Mineral Rich Australia May Contain World s Next Major Oil Find (3.5 to 255 billion barrels)
Australia's massive mineral exports allowed it to weather the global recession, which began in 2008, quite nicely.
The U.S. government's Energy Information Administration noted in its country's analysis for Australia, "Australia, rich in hydrocarbons and uranium, was the world's second largest coal exporter in 2011 and the third largest liquefied natural gas (LNG) exporter in 2012. Australia is rich in commodities, including fossil fuel and uranium reserves, and is one of the few countries belonging to the Organization for Economic Cooperation and Development (OECD) that is a significant net hydrocarbon exporter, exporting over 70 percent of its total energy production according to government sources. Australia was the world's second largest coal exporter based on weight in 2011 and the third largest exporter of liquefied natural gas (LNG) in 2012."
Six months ago Brisbane company Linc Energy Ltd.Energy released two reports, based on drilling and seismic exploration, estimating the amount of shale oil in the as yet untapped 30,000 square mile Arckaringa Basin surrounding Coober Pedy ranging from 3.5 billion to a mind boggling 233 billion barrels of oil.
If the upper end estimates are correct then it means that the Arckaringa Basin is six times larger than the Bakken, seventeen times the size of the Marcellus formation, and 80 times larger than the Eagle Ford U.S. shale deposits.
http://energybangla.com/2013/07/25/2847.html
= new reply since forum marked as read
Guessing they already have some politicians with their fingers in it all somewhere (protection money? 
)
oh man. no one likes to talk about the EIOER regarding shale, because the margin is razor sharp.
Yeah, boom times. 