South Korea Announces It May Have Discovered Massive Oil and Gas Reserve Off the Coast of Pohang
This potential oil and gas reserve off the coast of Pohang would be huge for South Korea’s economy considering how dependent it is on foreign oil imports:
President Yoon Suk Yeol said Monday that a potentially massive oil and gas reserve could be buried off the southeast city of Pohang and drilling will begin later this year to determine whether it is real.
The reserve off Yeongil Bay in Pohang, about 260 kilometers southeast of Seoul, could hold up to 14 billion barrels of oil and gas, an amount that could meet South Korea’s gas demands for 29 years and oil demands for four years, Yoon said.
He cited a geophysical study conducted by an unidentified foreign seismic research company.
Yonhap
You can read more at the link.
He wants to take credit for it when he has nothing to do with it. We will know by early next year after they drill five holes and see how much oil there is.
North Korea probably has far more of this stuff, but it’s the short straw dealt to the Korean people by the geo-political realities. A unified Korea would have and should have been an economic superpower.
nice
This is looking more and more like a fraud, with an incompetent stupid Yoon government taking the bait of a foreign company taking advantage of Yoon’s infamous stupidity.
https://www.reddit.com/r/korea/comments/1d7t72h/has_south_korea_really_struck_oil/
Nobody in South Korea believes this is true, that there’s any gas.
How can one guy be able to turn a major country into a banana republic overnight?
I now understand.
This is looking a lot like fraud because your source said so.
Source: A bunch of anti-Yoon incels on reddit saying it was fraud… no reasoning, no theory, no science… just hoping Korea will fail as long as it means Yoon willl fail.
People who are self-destructive just to cause trouble for their imaginary enemies are deep in the wrong end of the Bell curve.
This is amusing under normal circumstances and probably contributes to my greater life success with reduced effort (not constantly thinking and acting against my own self-interests is a force multiplier).
But these people get a vote equal to mine and somehow they have recently been empowered to push their self-destruction and mental illness off on me.
Show these animals consideration or mercy, and they will keep coming like an invasive species.
I am also skeptical about this situation, and I can give historical and scientific reasons why.
But there really isn’t enough information to form a real opinion yet.
Did you even read the article?
https://www.koreaherald.com/view.php?ud=20240604050523
What the hell is this company that names itself as “Act-Geo” that has a plain-looking house as a headquarter? Who is this head that claims to have been a former Exon Mobile exec? Did anybody do a background check on this guy? Why Act Geo a company nobody has even heard of and why not Exxon Mobile instead? Everything screams fraud. Like I said, nobody in South Korea believes this is all real, most Koreans are joking that this is another example of stupidity of Yoon being taken advantage of yet once again.
“What the hell is this company that names itself as “Act-Geo” ”
Your ignorance is not my alarm.