What price is oil at now? Did I see a reference price of $75US a barrel?
And that is with only a minor sabre rattle by North Korea and a sneeze in Iran.
Is China still growing at 9%, is India growing at 7%, have the Americans turned their SUVs into jam tins yet?
In two months the Northern Hemisphere will start to build their winter heating oil inventories. Where will oil prices go then?
When did Australia make it's last significant addition to it's oil supplies from domestic exploration?
All these questions and Pinnacle/Cougar have the answer - Underground Coal Gasification and then further process to liquid transport fuel, or burn in a combined-cycle thermal power plant at 50% thermal efficiency or pump it into the Jackson gas pipeline for consumption closer to town.
PCE
pinnacle vrb limited
what is oil today: coal to liquid
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