News reports that South Australia could be sitting on a vast oilfield worth more than $20 trillion sparked global interest in the oil and gas sector amid rising price of the energy source. It was not just the resource sector that was livened up by Linc Energy's two reports but the cyber world as well.
The report estimated the yet untapped oil at Arckaringa Basin surrounding Coober Pedy between 3.5 billion and 223 billion barrels of oil. If confirmed and tapped, this would further boost's Australia's economy and political power as well.
The news comes at a time that the country's booming mining sector is slowing down amid lower prices for iron ore and coal.
Netizens immediately posted and retweeted the good news which has a potential of altering the balance of power since oil is a major commodity needed by all nations for fuel and power needs. Along with the rash of tweets and posts, meme makers also started to comment on what is probably the best news for Australians.
For the record, here is the first trillion oil find meme
Which appears to be similar to this one made for Brazil
The oil find brings to mind what happened in Canada after the country discovered oil in Alberta's sands.
Both Canada and Australia, on account of its booming resources sector, boosted their currencies and now are valued higher than the greenback. Oil definitely is a source of economic and political power, as Arab nations know and enjoy.
Prompting nations to continue the search for the black gold
Even underneath ocean floors which sometimes cause environmental disasters
After recovering from the shock caused by the sheer size of the potential oil reserves
Australia, before rejoicing over this source of wealth,
must be reminded that too much of oil, whether it's in their plate or underground, could potentially be fatal.
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