Gnads wrote on Mar 20^th, 2026 at 1:20pm:


I believe he was, but he acts more like someone who either failed, or cashed out.  He doesn't act like someone who still is.

Not that it matters, even if he was, his opinions are quite toxic either way.

Australia does have oil - a lot of it is shale oil -

I think the oil companies are not interested due to too many laws
that would eat away at their profits.


https://www.ga.gov.au/aecr2025/oil



In 2023 Australia’s total demonstrated oil resources are estimated as 100,255 PJ (17,142 million barrels [MMbbl]), of which 7,551 PJ (1312 MMbbl) are classified as proven and probable (2P) reserves. Approximately 80% of these resources are associated with unconventional oil shale deposits.


Australia’s conventional liquid hydrocarbon resources include crude oil, and the condensate plus liquefied petroleum gas (LPG) resources associated with gas accumulations (as phases of natural gas liquids; Figure 4.1). Australia has limited identified conventional oil resources which are being depleted at a faster rate than they are being replaced by new discoveries (Figure 4.2).


In 2023, Australia’s total demonstrated resources (TDR) of conventional oil are estimated as 20,398 PJ (3,557 MMbbl), including 7,551 PJ (1,312 million barrels, MMbbl) of proven and probable (2P) reserves and 12,845 PJ (2,245 MMbbl) of contingent (2C) resources (Figure 4.1).


Australia has significant undiscovered unconventional oil resources potential, including shale oil, tight oil, oil shale and basin centred natural gas liquids. Unconventional oil resources are currently undeveloped and include oil shale occurrences (TDR of 78,966 PJ; 13,430 MMbbl) and minor condensate and LPG associated with unconventional gas resources (TDR of 848 PJ; 144 MMbbl). Currently there are no unconventional oil reserves or production in Australia.


Australia is a minor oil producer, ranking 31st in the world and accounting for 0.4% of total oil production in 2023 (Energy Institute, 2024). In 2022-23 Australia produced 771 PJ (131 MMbbl) of crude oil, condensate and LPG, of which over 94% was exported (DCCEEW, 2024). In 2023, Australia imported about 90% of its oil requirements.


In 2023, nearly 80% of all oil production was from offshore fields on Australia’s North West Shelf (Northern Carnarvon, Browse and Bonaparte basins), this included condensate produced from a few large gas fields. Australia’s domestic crude oil production continues to decline rapidly, and without new commercial discoveries, production is projected to cease within the next 7 years.

Bobby. wrote on Mar 20^th, 2026 at 5:36pm:


There are 511 billion barrels of oil in Antarctic.

tallowood wrote on Mar 20^th, 2026 at 5:46pm:



There would be a lot more than that.
Antarctica is hardly drilled at all.
You can't legally take the oil anyway -
no one owns Antarctica.

Bobby. wrote on Mar 20^th, 2026 at 5:49pm:


Terra Nullius, hmmm 

Bobby. wrote on Mar 20^th, 2026 at 5:49pm:


China wants  a piece. How that turns out is anybody's guess.

Bobby. wrote on Mar 20^th, 2026 at 6:22pm:


That's only half the equation. The other half is the active disincentives.

Bobby. wrote on Mar 20^th, 2026 at 5:51pm:


No farm, no horses. Okay, Mrs Scoot can be a bit of a nag, but she's been giving Aquascoot the cold shoulder of late.

Aquascoot insisted in putting the self managed super in mining and agriculture stocks, you see. It's gone totally south.

The Scoots have been forced to skimp on Friday Meat Tray tickets at the bowlo. The members are starting to give them dirty looks. Big Dave calls them the tightwads.

When Aquascoot buys his usual pony, Big Dave makes a big deal about him being last of the big spenders. It's getting a little ridiculous.

The Scoots are in a tight spot, but that's okay. Aquascoot has a plan. He's sent the big fella an email advising him to crash the global economy.

That'll teach the losers.