$20 trillion shale oil deposit found in Australia

World Jan. 24, 2013 - 01:05PM JST ( 15 )

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15 Comments

1

RecklessJan. 24, 2013 - 02:41PM JST

My how times change.
2

TamaramaJan. 24, 2013 - 03:12PM JST

Their share price is up around 25% today and about 100% for the month. Nice work.
2

NessieJan. 24, 2013 - 03:26PM JST

A timely find for resource-starved Australia.
1

caffeinebuzzJan. 24, 2013 - 03:28PM JST

The company has since distanced itself from the calculations of 20 trillion:

Linc chief executive Peter Bond told BusinessDay: ‘‘That’s not our valution. I don’t know who did that but someone’s got a calculator out and come up with that number ... but we wouldn’t put a valuation on it at this stage. It’s too hard.
0

SuperLibJan. 24, 2013 - 04:16PM JST

These figures describe the size of the field, not how much (if any) can be extracted. But good luck just the same.
2

Herve Nmn L'EisaJan. 24, 2013 - 04:39PM JST

That would be a lot of fracking oil, yeah?
0

gmannJan. 24, 2013 - 04:40PM JST

well with the Baaken Oil find in the US I guess the price of fuel will come down??? certainly not.
1

garymalmgrenJan. 24, 2013 - 06:16PM JST

Burn, baby, burn.
3

Peter PayneJan. 24, 2013 - 06:28PM JST

Cool news for Australia.
8

realmindJan. 24, 2013 - 06:44PM JST

Soon you will see that China claiming that land as theirs.
0

Elbuda MexicanoJan. 24, 2013 - 10:53PM JST

Realmind, you beat me to it! If it were on the coast in the WATER, I am sure CHINA would be somewhere in this news about oil etc...
-4

maglev101Jan. 24, 2013 - 11:31PM JST

Soon you will see that China claiming that land as theirs.

or the u.s. will claim australia has wmd and invade.
1

globalwatcherJan. 25, 2013 - 04:16AM JST

Congratulations to Australia!!
0

fivegogo2003@yahoo.comJan. 25, 2013 - 07:24AM JST

Peak oil is a myth, it's a way for big oil to gouge all of us.
0

caffeinebuzzJan. 27, 2013 - 02:26PM JST

Peak oil is not a myth, but I'm sure the industry is content to find ways to gouge us- as plenty of industries tend to do. Although on different timescales, it's akin to saying the world ending due to the death of the sun (within around 5 billion years), is a myth. Oil is finite and whether peak oil hits in a decade or a hundred years, it is a certainty.