The Phaserl


The Biggest Oil Discovery In 50 Years?

by Michael Snyder, Economic Collapse Blog:

In a virtually uninhabitable section of South Australia, a discovery has been made which could rock the world.  Some are calling it the biggest discovery of oil in 50 years.  Earlier this year, a company called Linc Energy announced that tests had revealed that there was a minimum of 3.5 billion barrels of oil equivalent sitting under more than 65,000 square kilometres of land that it owns in the Arckaringa Basin.  But that is the minimum number.  It has been projected that there could ultimately be up to 233 billion barrels of recoverable oil in the area.  If that turns out to be accurate, the oil sitting under that land is worth approximately 20 trillion dollars, and it would be roughly equivalent to the total amount of oil sitting under the sands of Saudi Arabia.  In essence, it would be a massive game changer.

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1 comment to The Biggest Oil Discovery In 50 Years?

  • B.M.

    I think we’re all going to discover what the elite, scum bags have known for nearly a century now, that oil is a renewable resource created within the earth’s core, and that there are tons of “undiscovered” oil pools all over the U.S. and world that the elite have been holding out on us.

    I’ve listened to many credible sources who have stated oil should only be about $.60/gallon at the pump given the amount available and re-created by the earth.

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