Thread: More on the fuel debate

Come on folks, there are several options even in Australia that have not been researched because of ideology.
1 Barrier Reef area exploration. EXTERMINATE. How many explorations have caused oil spills. How long can we afford the luxury of ignoring prospective areas. There will be no tourists if oil keeps increasing in price. The Barrier reef area is the most prospective in Australia.

2 Queensland Rundle oil shale. Due to the resistance of environmentalists the venture failed and is now owned by Canadians. I once met the MD of ARAMCO, and the first thing he said to me was somthing like "Australia, thats where you have that fabulous oil sand/shale deposit".
I am sure they would be viable at $130 barrel , if the Feds kick started it.

The new Feds have a bigger ideology problem than The Howard mob.
Their biggest problem is not realising that the game has changed. Nobody worries about their 38 cent take at 80-90 CPL, but its a different matter at 1.60CPL. AND they think they can add a carbon tax as well( even though even Europe does not have carbon tax on fuel.)
I believe that they have to find a new cash cow. Here is a suggestion.
Australia has become what is called an "enclave" economy, where the exchange rate is determined by our coal, steel and energy exports to the detriment of almost everything else
All other exports are suffering eg cars,ag products, food etc etc.

The Feds should introduce a more swingeing resources rent tax which rises and falls with the exchange rate. the miners are at the moment unbelievably profitable, and although they would scream like hell, it would not affect ther profitability much. Qld has just taken some steps in this direction.( I say this as a shareholder of BHP)
Why should Australia subsidise China with ultra cheap gas exports, when they will not let us export anything else there.
Regards Philip A

Originally Posted by landy63

Dont know what every one is complaining about , Petrol/diesel is still cheaper than Beer.

Yes but even I can't get through 133 litter's of Guinness in one stop at the local


Tony

Originally Posted by PhilipA

Come on folks, there are several options even in Australia that have not been researched because of ideology.
1 Barrier Reef area exploration. EXTERMINATE. How many explorations have caused oil spills. How long can we afford the luxury of ignoring prospective areas. There will be no tourists if oil keeps increasing in price. The Barrier reef area is the most prospective in Australia.

I can't believe you are advocating drilling for oil in a world heritage listed area

2 Queensland Rundle oil shale. Due to the resistance of environmentalists the venture failed and is now owned by Canadians. I once met the MD of ARAMCO, and the first thing he said to me was somthing like "Australia, thats where you have that fabulous oil sand/shale deposit".
I am sure they would be viable at $130 barrel , if the Feds kick started it.

There were some environmental issues, but I know quite a few people who were involved in this project. It failed because it wasn't technically feasible. In the future it will likely be picked up again if prices rise high enough.

There has been a huge increase in exploration. I am sure more reserves will be found, but the fact remains is that we are over the peak, and we need to start looking at other alternatives.