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$20 trillion shale oil deposit found in Australia

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© 2013 AFP

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My how times change.

1 ( +1 / -0 )

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

2 ( +2 / -0 )

A timely find for resource-starved Australia.

2 ( +3 / -1 )

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.

1 ( +1 / -0 )

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

0 ( +0 / -0 )

That would be a lot of fracking oil, yeah?

2 ( +2 / -0 )

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

0 ( +0 / -0 )

Burn, baby, burn.

1 ( +1 / -0 )

Cool news for Australia.

3 ( +4 / -1 )

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

6 ( +9 / -3 )

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...

0 ( +1 / -1 )

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

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

-4 ( +1 / -5 )

Congratulations to Australia!!

1 ( +1 / -0 )

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

0 ( +0 / -0 )

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.

0 ( +0 / -0 )

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