Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Joined: Apr 17, 2005 Posts: 2632 Location: Vancouver Island
Posted: Wed Apr 02, 2008 4:54 pm Post subject: How much oil production is in the region?
My company sells software to the oil/gas industry. We just received a call from a company in Australia interested in the product.
I'm wondering how large the industry is in Australia. Is it mostly onshore? Is it mostly clustered around one area? Is it mostly gas or is oil still a big thing? We have clients in Singapore but had never thought of Australia as being much of a potential customer.
With any luck I'll get a couple of weeks in Australia on a fact finding mission
Us Canadians never hear anything about australia and oil other then the fact that you guys get way better cars. _________________ shame on us, doomed from the start
god have mercy on our dirty little hearts
Geoscience Australia researches and advises government and industry on Australia's petroleum prospects, reserves and potential. Its work is used by the Australian Government to attract international exploration investment to search for petroleum and hence sustain Australia's indigenous oil supply into the future.
Petroleum projects in Geoscience Australia undertake studies to assess the geological risks of petroleum occurrence and underpin assessment of petroleum potential and promotion of prospectivity.
Does this help? _________________ "www.peakoil.com is the Myspace of the Apocalypse."
Joined: Apr 17, 2005 Posts: 2632 Location: Vancouver Island
Posted: Wed Apr 02, 2008 11:24 pm Post subject: Re: How much oil production is in the region?
actually I was hoping to hear more from people working in the field. Canada's "official" sources aren't really all that similar to what it's like in the real world. I assumed australia would be the same. _________________ shame on us, doomed from the start
god have mercy on our dirty little hearts
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