Shale oil "talked up"

Don't let the truth get in the way of a good story. How many times have we heard that statement?

Following on from the recent post - Is Shale Oil Going To Save South Australia? - there's a bit more to that story than meets the eye, as I suspected. Let's start with another recent article about the subject of that post ... Linc Energy.

Here's what The Age "Business Day" wrote about Linc Energy's claim of the cost of producing a barrel of oil from Underground Coal Gasification (UCG). This article is all about the validity of Linc's claims and the purported involvement of CSIRO, who it seems, preferred to distance itself from Linc's claims. Why? Read the article to get the story.

But what is interesting are the two snippets at the end of the Business Day article. It is reported that Linc bought large areas of the Arckaringa Basin in northern South Australia, presumably for its UCG play. The article went on to say ...

The (Adelaide) Advertiser, in a report quickly hosed down by (Linc Energy's chief executive) Bond himself, reported Linc had found a resource worth $20 trillion. It was a claim that was too good to be true.

$20 trillion!! Of course it was too good to be true. This is silly stuff, but more worrisome is that COAL and OIL are still at the forefront of energy stories and energy developments around Australia, if not the world. Just look at what's happening in North America.

Meanwhile, whilst Linc Energy's share price has spiked upwards as a result of these recent announcements, the fact is that hydrocarbons in whatever shape or form are just too good an opportunity for corporations not to extract. The consequences seem to be selectively forgotten, there's monet to be made!

What is not realised is that these so-called resources are locked up in rock for a reason. And that is to keep them entombed forever, lest there be a destabilisation of earth's systems. Nature intended it that way, and not because at some time millions of years after these "resources"  were locked away, an animal species would come along and release their creeping devastation on the planet. 

The genie is out of the bottle. 

What now is on the way that will be fateful for South Australia? Here's a start.

Have your say.

 Terms Of Service & Conditions Of Use          Privacy Policy          Site Map          Contact

Copyright © D N Menz    2009 - 2017