Queensland's New Oilfield: Hype or Game Changer?
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Queensland Premier David Crisafulli announces a potential new oilfield, hailed as Australias first in 50 years, located in the Taroom trough. The discovery comes amidst global fuel shortages due to Middle East tensions. Companies like Shell, Omega, and Elixir are exploring the site, which may require fracking. The state government is optimistic about the find, but experts advise caution, as companies often overstate potential yields. The projects future hangs in the balance due to federal rules excluding fossil fuels and the lack of a solid project for approval.
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