There is an impediment to this boom; if the oil costs more than $100 a barrel to extract. US oil production is back to 1986 levels and may increase for a year or two yet. Then it will go into irreversible decline so that potentially hostile suppliers will be needed. That's not just the Middle East but could include a new Canadian government carbon taxing oil sands. By 2020 the US will be back in oil crisis mode.

I'm glad we have discovered horizontal drilling, which means, we can locate or create a few Islands, from where we can drill into the probable huge wealth, that lies under the Great Barrier Reef!
And as the trillions roll into the national coffers, and our carbon emissions go way down due to the change over, to much seriously cleaner/lower carbon fuel!
Few seriously misinformed, so called greens, would then dare stand in the way, of full development, of what could prove to be the largest most profitable oil and gas field in the world?
Relatively shallow Permian oil announced its presence, with a few mystery oil slicks!
Ours are considerably more numerous and cover a vastly bigger area!
Rhrosty.

Footnote:
The average international cost of extracting oil is around $3.00 a barrel, and still varies between $1.00 and $10.00 a barrel to extract?
Our own reef deposits, lay in relatively shallow water and given the number of mystery oil slicks, at relativity shallow depth.
Our own traditional sweet light crude, leaves the ground as a virtually ready to use, naturally occurring diesel, needing only a little chill filtering, virtually on site, to remove the few sand grains and or soluble wax, that could block the injectors; and or referring to soluble wax, makes particulate laden black smoke!
Even so, with the aforementioned impurities removed, and the inclusion of 4.7% methanol, it is a superior diesel, with superior lubricating qualities, and considerably less sulfur, than the fully imported twice refined, hugely expensive, imports!
Making petrol replacing methanol, is as simple as passing NG through a simple catalyst!
Imports that can and do, produce four times more carbon, than our own indigenous, sweet light crude, or twice that again of CNG or LPG, the latter often burned off, as a embarrassment of wellhead riches!?
Given LPG, if refined via simple cost effective, fractional distillation instead, would cost virtually nothing to extract as is, as an also ready to use locally available for a few cents a litre, fuel!
All but killing sales of highly costly to refine, fully imported petrol in the process?
NB:
NG leaves the ground at subzero temps, meaning, a little chill filtering, of our own nearby, sweet light crude, would and could be also a virtually costless process, not requiring very much actual energy input?
Rhrosty.

The simple fact remains that when it takes more energy to extract the oil than you actually get from said oil the fossil fuel age is over.
When this will happen is what I want to know.