Could The Oil Discovery In South Australia Be A Game Changer?
From Seeking Alpha
Oil is not called black gold for nothing. Oil runs the world right now, and has done so for over 100 years. Even given all of the hype about wind, solar and the natgas fracking bonanza, oil will run the world for the foreseeable future. Oil is vital to the immediate future of the human race, and there have not been very many “huge” oil finds in recent memory, until now that is, if we are to believe the January 23rd news release from Linc Energy (LNCGY.PK) of Australia.
According to Dr. Kent Moors– an adviser on energy matters to MoneyMorning.com and to a number of World Governments including the USA and China– the recent discovery in the Ackaringa Basin by Linc Energy Ltd (LNC-ASX) is a “game changer” that will actually tip the balance of power, financially, politically and maybe even militarily, on the world stage. Those are big claims and I do not agree with nor dispute them as I will leave that to greater minds than mine.
What I am interested in, is the actual claim by Linc energy, its investment potential and how it may affect the similar geology of other Australian oil basins, especially those bordering the Ackaringa Basin in South and Western Australia.
By posting your comment, you agree to abide by our Posting rules