October 29, 2013 – It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale.All told the recent discovery outside a sleepy Australian town contains more black gold than in all of Iran, Iraq, Canada, or Venezuela.
The current estimates of 233 billion barrels are just 30 billion barrels shy of the estimated reserves in all of Saudi Arabia.
Now, one renowned international energy expert predicts the proven reserves will be much bigger.
“The find may land at 300 or 400 billion barrels, making it one of the greatest unconventional oil discoveries any of us will see in our lifetimes,” says Dr. Kent Moors and advisor to six of the top 10 oil producers and active consultant to 20 world governments.
“It represents a bona-fide redrawing of the global energy map as we know it,” Moors says, “and the mainstream media is completely ignoring it.”
Editor’s Note: Experts value this find at over $20 trillion. To see the one stock that will deliver a record payday, go here.
Where the Hell is Coober Pedy?
To the people who call this place home, the oncoming oil boom means nothing will ever be the same ($20 trillion worth of oil can do that to a town).
The boom is centered around a place called Coober Pedy, an inhospitable speck on the map in Southern Australia.
The big draw is the riches found in the region’s vast geological structure, the Arckaringa basin.
Encompassing an area in excess of 30,000 square miles, what’s buried within the basin is enough black gold to completely change the global oil landscape-not to mention the lives of early investors.
Analysts believe this is equivalent to investing in Saudi Arabia in the early 1950’s.
And according to this inner circle briefing by Dr. Moors, one little company controls the whole thing.
Editor’s Note: This is the biggest find in 50 years and it will create unheard of fortunes for investors who act now. Watch this unbelievable video to learn more.
Sources and more information:
This Massive Discovery Has Put The Saudi’s Into a Panic By Money Morning Staff
Reports It’s the biggest find in 50 years and the media is completely ignoring it… It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale. All told what was recently discovered outside a sleepy…
alanmos Said:
Oil gives a population energy,wealth and independence, there are those in “power” who will lose.
All this oil will not do anything to the atmosphere once it’s burned up. While there are many reasons why man made global warming is no more than a mythical thought, two simple facts can give clear understanding for that truth. First, temperature in the atmosphere always leads CO2 and never that CO2 leads temperature. The proof of this is seen in the past 15 years where the temperature has stayed steady while plenty of CO2 has been released into our atmosphere. The global warming advocates recognize this as a problem because it has proven their charts to be totally in error.
The second fact is that the oceans regulate the amount of CO2 in the atmosphere. Man made CO2 cannot begin to compete with the massive amounts of CO2 removed and/or added to the atmosphere by the oceans at varying times. Once this fact is understood anyone can comprehend the mythical nature of man made global warming.
When volcanoes erupt they combat the CO2 in the air. Some are predicting that the earth is going into a cooling period.
Man made global warming truly is no more than a myth. A myth is something produced to deceive.
CuriousAmerican Said:
true that!!!!!!!!!!!!
yamit82 Said:
Right now West Texas is booming,oil haulers,oil suppliers, and red Haliburton trucks are every where. Motel space is almost imposible to find.
I heard Gov Perry is visiting Israel and opening an extension of Texas A&M. I know the Aggies has been involved in underwarter exploration in the Port of Cesaria.
If an oil boom come to Israel,prepare yourselves.
Global warming is a myth
This will assure that oil will dominate as a fuel for many years to come. And the CO2 in the atmosphere will continue to increase at an ever faster rate. It is now passing 400 ppm which is said to be the highest in the past million years. Many warn that this is dangerous while others insist these warnings are all nonsense. Who is right? We normally take out insurance for contingencies such as illness, accident , fire and theft. But we may be betting our biosphere that rising CO2 is safe without any insurance or any “Plan B”. History shows that even the brightest people can be fatally wrong.
Old story around since Jan. 2012. Site above are hyping the old info in-order to attract investors. Right now I would call them speculators trying to attract suckers.
QUESTION???? HOW MUCH IS RECOVERABLE?
At the heart of excitement around Linc’s new find were figures displayed prominently on the first page of the company’s announcement: 103 to 233 billion barrels of oil equivalent.
But the estimates are what are called “unrisked prospective resources”, which give no indication as to how easily the reservoirs can be tapped or whether oil and gas can be profitably produced.
Some analysts zeroed in on another estimate — the 3.5 billion barrels that are likely to be recoverable — that was on a chart on the third page of its release and which they said gave a more accurate picture. the oil in this formation in Australia is going to be quite expensive to extract. It has been estimated that it is going to cost up to 300 million dollars just to get this site ready for production.
In addition, many Aus, politicians are absolutely determined to greatly punish the use of oil because they believe that it is the primary cause of global warming. So they continue to raise taxes on gasoline consumption.
Today, motorists in the United States pay an average of 49.5 cents of taxes per gallon of gasoline, and in the state of California motorists pay an average of 71.9 cents of taxes per gallon of gasoline.
But what we can be sure of is that the world is not going to run out of oil any time soon. Those that have been predicting that we are are on the verge of an “energy doomsday” can take a rest for a while.
Back in 1995, the U.S. Geological Survey told the American people that the Bakken Shale formation in western North Dakota and eastern Montana only held 151 million barrels of oil. Today, government officials are admitting that it holds 7.4 billion barrels of recoverable oil, and some analysts believe that the actual number could be closer to 24 billion barrels of oil.
It is estimated that there are 19 billion barrels of recoverable oil in the tar sands of Utah.
It is estimated that there are 86 billion barrels of recoverable oil in the Outer Continental Shelf.
It is believed that there are 800 billion barrels of recoverable oil in the Green River formation in Wyoming.
Overall, the United States is sitting on approximately 1.442 trillion barrels of recoverable oil.
According to the Institute of Energy Research, the United States has an 88 year supply of natural gas.
According to the Institute of Energy Research, the United States has a 169 year supply of oil.
According to the Institute of Energy Research, the United States has a 465 year supply of coal.
Goldman Sachs is predicting that the United States will be the number one oil producing country in the world by the year 2017.
An oil glutted market should reduce the price of oil considerably but the very high cost of Shale extraction, infrastructure pipelines and the additional costs of refining require the price of oil to be high to make such massive investments profitable. I see a potential conflict between these economic factors. No matter how much recoverable oil fro Aus ind it will take massive financial investment and maybe ten years before any commercial quantities of oil will be felt in the market.