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New Huge Oil Find in Australia... 233 billion barrels, 6 times larger than the Bakken

Video
http://pro.moneymappress.com/EAD4979EDI199DB/PEADP714/

http://moneymorning.com/ob-article/arckaringa-saudi.php?code...
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 Australian town contains more black gold more than in all of in Iran, Iraq, Canada, or Venezuela.

With current estimates at 233 billion barrels its just 30 billion shy of the estimated reserves in all of Saudi Arabia.

According to one renowned international expert, this massive discovery could eventually dwarf the oil rich kingdom as the original estimates are revised.

An advisor to six of the top 10 oil producers and active consultant to 20 world governments, Dr. Kent Moors now believes 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."

"It's represents a bona fide redrawing of the global energy map as we know it," Moors says, "and the mainstream media is completely ignoring it."

My thoughts
This is huge news and the media is silent because it would have disastrous effects for every oil nation on earth with such a ridiculously huge influx of new supply while demand is slowing.

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WTF people???

What the hell country did you all grow up in? In my childhood, we learned this skill that lets us do these things called "calculations". An example of which would be dividing large numbers with lots of zeros into each other. We also learned to combine these 'calculations' with a pair of curvy vertical lines. This greatly simplifies the overall outcome. See the following:

233,000,000,000 / ( 85,000,000 x 365 ) = 7.5

We learned to default to performing this action on our own as a way of double checking information we're fed. The follow up skill (for the advanced kids) was to then construct a story to better illustrate what our newly derived information was showing. In this case we would say: This single find has the maximum potential of extending the global status of running completely out of oil (reserves) by a whopping 7 years.

Then we learned to put our story in an accurate perspective context. Continuing with this case as my example, one could say the following: Since Peak oil is about production, EROEI and not reserves and that means this find could only push the global peak catastrophe out by a maximum of 39 months. And given the hype and build-up in the OP of saying it practically doubles the global reserves... AND given that those reserves were all found 30-40 years ago... This shows that our current trend of finding oil takes 10 times as long as it takes us to burn through it. Further given, is that since this and most other recent expeditions take far more energy to capture the oil (barely shy of the energy retrieved) and that this will APPEAR as the new standard for 'low hanging fruit' AND that price is the driver for peak oil, this super wonderful find may not push our crisis date out one tiny bit. In fact, it is entirely possible that with the way our futures markets work, it may ultimately pull it in earlier!

Are these some unique skills I have? Should I begin referring to them as 'a gift' from now on and say I don't like to talk about them that much? Without these answers, I feel so left out, socially. It's eerily like there are dark forces out there that don't want me to use my gift. Does anyone else feel the same?

Yay!

So when are we making Australia a parking lot for us to loot?

My Political Awakening: I Wanted to Change the World...
I am NOT Anti-America. America is Anti-Me - Lowkey
How to Handle POLICE STATE Encounters

Thank God someone discovered this 'land of Austeralia"

Sounds like a dream come true.

I hear they have dancing rabbits that can box like a man...

Don't feed the pandas. Ever.

We know where this is going...

CNN Breaking News! Australia is harboring terrorist organizations, accumulating weapons of mass destruction, and has been silently overtaken by tyrannical dictators. The US must drop bombs immediately to restore democracy (compensation for costs incurred from this benevolent liberation will be paid for through oil proceeds).

Expensive

The formation they're drilling is way more expensive to drill than the Eagle Ford. They're seeing bottom hole temperatures up to 490F. The Eagle Ford rarely sees above 220F. The mud systems required to drill those hot wells in Australia are extremely expensive and prone to far more hole problems which leads to more days per well.

Liberty: Too big to fail

Darn, I hate it when that happens.

are you a "fossil" fuel theory advocate?
just curious.
peace.

nah

I've seen more evidence that hydrocarbons are created in the deep crust/upper mantle. Thomas Gold wrote a good book on the subject years ago, 'The Deep Hot Biosphere'. He's the guy that told physiologists in the 1940's how sound resonates in the human ear; they didn't believe him until it was proven decades later. I like to view Thomas Gold as the Ron Paul of science. Speaks the truth but not everyone listens because of conventional thought of the time.

Anyway, if you're interested in how hydrocarbons form and the fossil fuel vs. abiogenic oil debate, I would start with researching Helium 3 found in natural gas in panhandle of Texas and eastern New Mexico, hydrocarbons seeping from the Mid Atlantic Ridge, and Saturn's moon Titan. That's pretty much the start of the rabbit hole. If you have general knowledge of microbiology, you can read about microbes that feed off hydrocarbons deep in the crust. The great thing about nature, is our understanding of it is always evolving and advancing. One day I think it will be proven that hydrocarbons are a naturally occurring product of a chemical reaction with heat and pressure that rises through the crust because of its low specific gravity. But who knows, we could all be wrong, that's the fun part.

Liberty: Too big to fail

It's probably the Arckaringa

I think U.S. estimates might actually be higher than what's posted here.

Sad Obama

Here's what everyone is

Here's what everyone is missing...it is becoming more and more expensive to produce...

http://www.fool.com/investing/general/2013/06/15/just-how-ex...

“Let it not be said that no one cared, that no one objected once it’s realized that our liberties and wealth are in jeopardy.”
― Ron Paul

Energy return

on energy invested is what counts. Shale is unfinished, it has to be cooked. This is evidence for Peak Oil predictions, not against. We're interested in shale, because global crude production is in decline.

The Greens Know

http://www.greenparty.ca/blogs/169/2013-07-04/coober-pedy-oi...

It's time! Rand Paul 2016!

"Truth, Justice, and the American Way!"

Time to invade Australia!

Time to invade Australia! They don't really have any defenses, do they? /s

ecorob's picture

So this explains why...

we sent Marines to Australia!

Its all coming together now.

its 'cos I owe ya, my young friend...
Rockin' the FREE world in Tennessee since 1957!
9/11 Truth.

Well

As long as they sell it in Dollars and invest back into U.S Gov Bonds with those Dollars then they should be OK.

If they have a problem with that, well..then we'll have to give them some democracy...free the shit out of them.

"I am Troll fighter, number one"

-Ernest

http://www.youtube.com/watch?v=LxWb-ViejPg

who ever thought we would invade Australia?

to soon?

We Will Be Pulling Out Of Syria Soon To Free Up Our Military

America never wastes an opportunity like this.

Gene Louis
http://www.survivaloftheslickest.com/
Supporting a Needed Tool for Government Feedback:
A Citizen-Operated Legal System.

LOL

I was just going to post something like "Pray for Australia, it's about to get attacked." But you beat me to the punch.

So, what do you reckon,

So, what do you reckon, negotiations first, or straight to sanctions? /s

DJP333's picture

So what does this mean for US Energy Independence?

I was hoping that we would be moving towards using all of our own oil and natural gas resources as well as renewables so we don't have to import any more energy. I have a feeling energy independence will take a back burner now.

"It’s not pessimistic, brother, because this is the blues. We are blues people. The blues aren’t pessimistic. We’re prisoners of hope but we tell the truth and the truth is dark. That’s different." ~CW

We are so invading Australia next...

You hear all these jokes about how no one wants to attack Australia because there isnt much there, well that just changed.

To climb the mountain, you must believe you can.

More than likely China will

More than likely China will make some massive sweetheart energy and investment deals with them.

I'd say the U.S. is due for another state...

Maybe we can trade for Hawai'i...

Don't feed the pandas. Ever.

I nominate New York City and Chicago

We take Australia and they get Chicago and NYC. That way we are exchanging Gun Free zones.

So much for peak oil theory.

So much for peak oil theory. The planet makes all the oil we need. Did you see that geyser of oil in the Gulf of Mexico a couple years ago? Plenty of oil on this planet.

How long before obama

How long before obama claims there are terrorists there and must install military.

"What if the American people learn the truth" - Ron Paul