We’ve all seen the big headlines over the few past few years proclaiming various new oil fields. These stories often go on to claim how the Age of Oilquarius is now upon us and we will swim and bath in seas of energy until the sun explodes and the universe ends. We are often showered with numbers and statistics that upon closer inspection don’t mean anything useful at all.
Case and point is the announcement earlier this year that a large oil field had been discovered in the Australian outback. Check out these three headlines and bylines below:
Up to 233 billion barrels of oil has been discovered in the Australian outback that could be worth trillions of dollars, in a find that could turn the region into a new Saudi Arabia.
- Coober Pedy has between 3.5 billion and 233 billion barrels of oil
- Australia could change from oil importer to exporter
- Boom and bust: How mining has shaped Australia’s history