Leaving aside the optimism of the promoters, the bizarre part of this article was the response by the state opposition, who seem to be oblivious to the fact that oil is an internationally traded commodity and think that producing oil locally will make the cost of petrol fall. Now - that might be the case if any political party was actually advocating mandating oil export restrictions or subsidised petrol - however none are and the NSW Liberal party would probably be the very last to adopt such measures even if the left leaning parties proposed them.

Drilling in NSW will send petrol prices down: Opposition

If the venture is successful the public will benefit from a drop in petrol prices, NSW Opposition Leader Barry O'Farrell said. The promise of oil would be welcomed by the public, Mr O'Farrell said. "The beneficiaries are the public," he told reporters in Sydney. "As is evident by the increasing price of oil, we're reliant on international oil cartels and the prices are currently only going in one direction. If we're talking about oil rigs 20 kilometres off the coast, if that offers the hope of increased oil [and] reduced petrol prices, I think the community will welcome it.