(image caption: Drilling at Maglia-1, Arckaringa Basin, South Australia)
Shale Oil Bonanza Reaches Australia
"The estimates of oil reserves in the Arckaringa Basin range from 3.5 billion to 233 billion barrels of oil — potentially worth as much as $20 trillion."
Poor, thirsty Australia, about to willingly embark on an ecological calamity. How much water will it take to develop this shale oil? (Water that Australia is already short on) How long will the ground, aquifers, and environment take to recover from such a toxic endeavor? How many tons of dangerous chemicals are going to be injected below the ground? How will all of this affect animal, plant, and human life now and generations into the future? Is anyone down under asking the questions?
Developing the Arckaringa Basin Shale deposit will further increase dependence on fossil fuels; it pushes us farther into dangerous global warming scenarios. It is literally throwing gasoline on a fire, and the fire is already out of control.
Drill baby Drill. What a shame.
-- Luis (CollapseNet COO)