Thursday, January 31, 2013

Australia: Asia’s Saudi Arabia?

Shale oil and gas are radically changing the geopolitical landscape. Instead of having to negotiate with hostile governments, these resources are increasingly being found not only in democratic countries but near population centers theDiplomat h/t Instapundit:

Linc shares surged 24 percent after it told the Australian Securities Exchange (ASX) on January 23 that its shale oil assets in South Australia’s Arckaringa Basin had the potential to hold up to 233 billion barrels of oil equivalent (BOE) – an amount not incomparable to Saudi Arabia’s estimated oil reserves of 263 billion BOE.

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