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LNG exports have certainly benefited Australia being the third highest export earner after iron ore and coal. If the politicians had been able to correctly negotiate royalty deals the value would have been even higher.

Certainly a very interesting decade and no sign of peaking in oil prices any time soon although geopolitics is more of a driver for that. With all the progress in energy from renewables probably, demand will decline faster than supply.

Interestingly, today is two and half decades to the day of the Oklahoma City bombing. Now there's a real anniversary to remember.

This is the 30th year of the modern peak oil claims.

ReserveGrowthRulz wrote:

BritDownUnder wrote: Interestingly, today is two and half decades to the day of the Oklahoma City bombing. Now there's a real anniversary to remember.

And here is another. This is the 30th year of the modern peak oil claims, starting with Colin Campbell's global peak oil claim for 1990.

Another date for me to put in my diary. Incidentally, today is Hitler's birthday.

How is Dr Campbell doing these days anyway?

BritDownUnder wrote:

ReserveGrowthRulz wrote:

BritDownUnder wrote: Interestingly, today is two and half decades to the day of the Oklahoma City bombing. Now there's a real anniversary to remember.

And here is another. This is the 30th year of the modern peak oil claims, starting with Colin Campbell's global peak oil claim for 1990.

Another date for me to put in my diary. Incidentally, today is Hitler's birthday.

How is Dr Campbell doing these days anyway?

Can't say I know.

Dr Campbell was still alive at 87 18 months ago. There is a piece about him on peakoil.com

PS_RalphW wrote:Dr Campbell was still alive at 87 18 months ago. There is a piece about him on peakoil.com

That forum is still alive?

I hope you do a 2020 milestones as well.

This post from Reuters shows a lot of data about how shale has benefited a lot of rural counties. One has to be rather jealous of a man who gets, or rather used to get, more than $100,000 per month in royalties from oil extraction from his land.

Sadly, in the UK, and Australia too, unlike the US the government gets all mineral revenues.

BritDownUnder wrote:I hope you do a 2020 milestones as well.

This post from Reuters shows a lot of data about how shale has benefited a lot of rural counties. One has to be rather jealous of a man who gets, or rather used to get, more than $100,000 per month in royalties from oil extraction from his land.

Sadly, in the UK, and Australia too, unlike the US the government gets all mineral revenues.

Some governments just don't want their folks defending themselves, nor owning their own mineral rights.

ReserveGrowthRulz wrote:Goodness knows what a mineral rights owner might do with the money!

In the case of the Australian government oil and gas royalties the answer is nothing. They don't collect any royalties as the large multinational oil and gas companies pleaded poverty.

Now an on shore Texas shale deposit is somewhat different to an Australian conventional gas deposit but I would think it unlikely that a Texas mineral rights owner would allow drilling to go ahead of there were no possibility of royalties below $80 per barrel oil.

Whatever you think about shale you cannot argue with this graph and the effect on the US trade deficit.



Much better to have royalties going into the US rather than to foreign governments who could possibly spend it on inciting terrorism, developing hypersonic missiles or potent new neurotoxins.