About 20 minutes in for Australia referencing. [youtube]http://www.youtube.com/watch?v=RinliGGwImg[/youtube]
Julie W..Looks like Australia is going to be a looser...No gold...Inflation..Lower interest rate. Now Joe the giant is giving the Reserve Bank $8.5 billion to gamble at the Casino. Martens double down system. Regards Errol Thanks JulieW..Looks like SS members don't want to know the good news.
Maybe not all doom and gloom errol. http://www.adelaidenow.com.au/news/...n-fuel-australia/story-e6frea83-1226560401043
Too bad we shut down the refineries.... If we tried to supply our own fuel to our own country instead of selling the oil into the world market and buying it back we would face the same treatment as Libya.
Hope to hell you are right mate..Hope it's the higher figure..3 billion barrels = 36 days world usage.. World uses 90 million barrels a day=1 billion every every 12 days. hope it is 233billion with a low EROI. SA WILL BE THE NEW TEXAS... rEGARDS eRROL43
Got to get it out of the ground first though errol, that's if it is there in estimated quantities and it's not easy to access so it's not cheap. And the energy industry is full of lies as well - and we all know whose interest those lies protect.
I have my doubts about the linc statements. Based on nothing but my own prejudices and gut feel. Will watch with interest.
Me too Napthalene Man. When I heard of the Linc Energy announcement I thought it was great news...but took it with a big grain of salt.
I've read many times, and had the suspicion for a long time, that Australia is an experiment and a 'last refuge' once they stuff up the world. Ever since 'On The Beach' it's been pretty obvious to the world that Australia is the end of the line and discoveries like this I doubt will trickle down to the local population at all. A good point above about us being Libya in a different set of circumstances.
Well this why they should be pushing for Natural gas/LPG technologies...... Australia has something like 200 years of gas supplies and they sell it cheap as chips to China...... There will be some new technology coming out soon for cars that will allow them to convert to LPG and get the same power and fuel economy as petrol for half the cost.....And I know this because in invested in the company that designing the new system! The new system is presently being tested in a vehicle and will be sold as an aftermarket kit sometime next year.
We'll see what China and the BRICs will do with gold! Will we see a new (at least partially) gold-backed reserve currency? Will we see petro-gold or petro-yuan push the petrodollar away?
