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Coober Pedy Oil: A 20 Trillion Dollar Australian Shale Oil Find

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Coober Pedy Oil - A 20 Trillion Dollar Australian Shale Oil Find This massive find has been likened to the Bakken and Eagle Ford shale oil projects in the U.S., which have created legitimate boom times in Texas and North Dakota. Even at the lowest estimate, Coober Pedy is set to make Australia a net oil exporter; at the higher estimate, Australia would become one of the world's biggest oil exporters. "What we're seeing up there is a very, very big deposit," says South Australia's mining minister, Tom Koutsantonis, "This is a key part to securing Australia's energy security now and into the future." Where is Coober Pedy? To the people who call this place home, the oncoming oil boom means nothing will ever be the same ($20 trillion worth of oil can do that to a town). The boom is centered around a place called Coober Pedy, an inhospitable speck on the map in Southern Australia. The big draw is the riches found in the region's vast geological structure, the Arckaringa basin.