5 billion barrels potential, page-33

The 5 billion bbls are Oil Shale.
Is it worth anything?

I think to extract oil from the shale, it emits 4 times the amount of greenhouse polutants as normal oil operations.

The announcement was good to trade though.

People should go back over the previous oil shale companies in Australia i.e. SPP & CPM.
They spend about 30 years and probably about $1+ billion up in Gladstone and eventually in 2003 it was scraped and SPP appointed an admnistrator.

I think the resource was something like 29 billion bbls.

They got to the stage where they had built $500+ million demonstration plants. Had all the financial and government backing but the protests, especially from Greenpeace were so loud that eventually the greenhouse-polluting Stuart project was canned.