25 03 2014

Technology is moving apace……  Damnthematrix now has its own youtube channel……..  Why you ask?  Well, here I was sitting at my laptop with the ABC TV news channel on, something rare as I almost never have the TV on if it’s not dark, when this amazing piece of news came on:  we’re saved; a new oil field has been tapped in central Australia, and it’s even producing twice as much oil as was anticipated.  A whole 764 barrels a day.  No dear reader, it is seven hundred and sixty four.  Not seven hundred and sixty four  thousand, just seven hundred and sixty four……….  enough to feed Australia’s insatiable thirst for the stuff for, wait for it……  SEVENTY FIVE SECONDS!  Appropriately enough, this well is called Surprise #1

So I found an internet video of this momentous news, downloaded it, and then uploaded it to my new channel so I can share it with you all.  Amazing is it not, that just an hour or so from publishing It is not a shale revolution, it is a retirement party, this appears as groundbreaking news….. we really are scraping the bottom of the barrel.





4 responses

25 03 2014
Daniel Boon

and apparently it is all sold overseas (as it is such a good quality) …
so assuming it sell around the Tapis price $127.74 in February >A$98,000 a day… so I don’t know where all the jobs will created to the point that the ROI is insufficient to continue it

They said it is pumping out under pressure, so when it stops (and where will the subsidence be?), the energy required to suck it out will speed up the poor ROI

26 03 2014
John Theodorou

The gears of the global system are grinding down so fast I doubt this sort of thing will be a big deal in the not-to-distant future, once the world economy succumbs to its next great financial crisis. Only a matter of when, not if…

8 04 2014
Mulga Mumblebrain

The synergy of ecological collapse, resource depletion, economic implosion under grotesque inequality and unpayable debt and the reckless geo-political aggression of the dying US Empire, absolutely ensure Near Term Collapse. Which will be the precipitating factor, may never be truly clear, as if we will really care that much. The spike of oil prices to $148 was seen by some as the straw that broke the property bubble in the USA, that precipitated the GFC, that was treated by blowing even greater bubbles with QE and various money pump-priming endeavours, sowing the seeds of the next crash, that will be bigger than ever . I’d bet on agricultural collapse caused by weather instability as a real threat to a number of states, and to the burgeoning ranks of the poor everywhere, through higher prices for the necessities of life. It has proved useful in setting up Syria for destruction, so the forces of evil have a useful precedent from which to learn.

28 03 2014

I’m hearing a lot of if’s but’s and maybe’s. I suspect (and hope) it’s the last we hear of this astonishing find of oil.

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