What the hell is this place and why have you never heard of it?
First, not even 2000 people live in this town in Australia. So you may never have met someone from there. Second, the people who live there are so poor that some live in caves below the ground. However, there is now good news for the people of this small Australian town...they are sitting on $20 Trillion worth of oil!
That's right! A newly discovered shale in the Australian Outback has more oil than Iraq, Iran, Venezuela AND Saudi Arabia. This could be devastating for international politics and oil prices, now that there is going to be such a large new influx of supply. And even more importantly, the oil is in Western Hands.
Until now, countries like Venezuela and Iran have held on to oil. They have created an organization that wanes oil into the petroleum addicted world at a pace like molasses, rendering high prices all over. In 1950s America, a gallon of gasoline was $0.10. Today, the same gallon is almost $4 nationwide, and in some places like Northwest Washington DC, $4.70! This new fine will result in much lower prices, all the way from down under!
Reported by Muammar Hassan
First, not even 2000 people live in this town in Australia. So you may never have met someone from there. Second, the people who live there are so poor that some live in caves below the ground. However, there is now good news for the people of this small Australian town...they are sitting on $20 Trillion worth of oil!
That's right! A newly discovered shale in the Australian Outback has more oil than Iraq, Iran, Venezuela AND Saudi Arabia. This could be devastating for international politics and oil prices, now that there is going to be such a large new influx of supply. And even more importantly, the oil is in Western Hands.
Until now, countries like Venezuela and Iran have held on to oil. They have created an organization that wanes oil into the petroleum addicted world at a pace like molasses, rendering high prices all over. In 1950s America, a gallon of gasoline was $0.10. Today, the same gallon is almost $4 nationwide, and in some places like Northwest Washington DC, $4.70! This new fine will result in much lower prices, all the way from down under!
Reported by Muammar Hassan
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