BLACK GOLD: Massive Oil Discovery Is Deathblow For Saudis

oil-pump-sunsetIt’s the biggest find in 50 years and the media is completely ignoring it…

It is 6 times larger than the Bakken, 17 times the size of the Marcellus formation, and 80 times larger than the Eagle Ford shale.

All told the recent discovery outside a sleepy Australian town contains more black gold than in all of Iran, Iraq, Canada, or Venezuela.

The current estimates of 233 billion barrels are just 30 billion barrels shy of the estimated reserves in all of Saudi Arabia.

Now, one renowned international energy expert predicts the proven reserves will be much bigger.

“The find may land at 300 or 400 billion barrels, making it one of the greatest unconventional oil discoveries any of us will see in our lifetimes,” says Dr. Kent Moors and advisor to six of the top 10 oil producers and active consultant to 20 world governments.

“It represents a bona-fide redrawing of the global energy map as we know it,” Moors says, “and the mainstream media is completely ignoring it.”

This massive find has been likened to the Bakken and Eagle Ford shale oil projects in the U.S., which have created legitimate boom times in Texas and North Dakota.

Even at the lowest estimate, Coober Pedy is set to make Australia a net oil exporter; at the higher estimate, Australia would become one of the world’s biggest oil exporters.

“What we’re seeing up there is a very, very big deposit,” says South Australia’s mining minister, Tom Koutsantonis, “This is a key part to securing Australia’s energy security now and into the future.”

This article continues at moneymorning.com

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