gizmo_2655 wrote on Oct 17^th, 2010 at 9:41pm:


I think Australia now does quite a bit of importing and not to much exporting, since our Production of black gold Peaked around 2000.

You may like to have a look thru the information available here -
http://anz.theoildrum.com/node/3657

gizmo_2655 wrote on Oct 18^th, 2010 at 6:27am:



Where did you get your information from Gizmo? It's not common knowledge.

Ex Dame Pansi wrote on Oct 18^th, 2010 at 7:29am:


ACtually it IS fairly common knowledge. we export our oil which is mainly not suitable for refining to petrol and import the oil we need.

gizmo_2655 wrote on Oct 18^th, 2010 at 7:35am:


gizmo,
I think you may fund there is a difference between Crude Oil Production (extraction) and the refining of that production into Petrol and other products.

The following is from your site -
The facts about Oil refining
Australia’s main oil refineries:
Australia produces 80 to 85 per cent of its crude oil requirements. There are seven major oil refineries operating in Australia, which refine crude oil into a wide range of petroleum products for use within the country and for export. Australia’s major oil refineries are:

Whilst the 80-85% figure you used is correct, it pplies to the % of Crude we refine, compared to what we consume.

We actually producejust over 400,000 bpd in OZ, but our Consumption is over 900,000 bpd.

What do you think the situation would look like, if we go with both major party's & our Population doubles over the next 40 years or so???



Link -
http://anz.theoildrum.com/node/3657

Sir lastnail wrote on Oct 18^th, 2010 at 10:01am:


talking of caves....  when are you moving out of yours and buying a house? or are you STILL waiting for the 40% drop in prices you so confidently predicted over the past few years?

Sir lastnail wrote on Oct 18^th, 2010 at 11:05am:



so in short you are still renting... and in the meantime prices continue to rise and since you have been posting on here the price of the average house has risen about $80,000. Im sure your 'investments' help you sleep at night in your rented house.

Sir lastnail wrote on Oct 18^th, 2010 at 11:28am:


Thats interesting because in 7 years I made a 458.33% capital gain on the sale of my first house.

Somehow I dont think you have made that in the last 7 years with your interest earnings.

The even funnier thing is you are only returning 2.5% on your interest, because inflation is 3%.

Verge wrote on Oct 18^th, 2010 at 11:33am:


Do I give a shite !! My old man bought his home for 5000 pounds in the 50's and now it is worth 2 million or roughly 20,000% increase !! A house is only worth what the bigger fool is willing to pay for it and there are no shortage of fools in this country.

More than likely if he sold it then some idiot would have to borrow most of it from the bank just to pay for it and send the country into yet more debt !!

Who is actually really gaining from a net 800 billion national debt and how does it get paid off from a property speculation bubble ??

It seems that the road to wealth in this country is all about sending the country into more and more debt by fueling bubbles and letting someone else worry about paying it back which is NEVER !!