Oops, decimal place error again, sorry. Replace $1 billion with $100 billion or so for the size of the shale resource. In any case, it has no hope of being another Saudi Arabia, and the $20 trillion figure was based on the most ridiculously optimistic figure of the total amount of oil in the ground (which is many times more than could ever be brought out of the ground even if it all was there) multiplied by a price higher than the current WTI price. The actual amount of oil will be less, only a small percentage of it will be recoverable and the cost of recovery is still completely unknown. The figure was apparently put together by some idiot journalist.
AEB Price at posting:
27.0¢ Sentiment: Sell Disclosure: Not Held
