What if Saudi Arabia became irrelevant to the world economy?

An oil discovery in a remote area of Australia threatens to make Saudi Arabia irrelevant to the world's oil markets and economy.

It is 6 times larger than the Bakken, 17 times the size of the
Marcellus formation, and 80 times larger than the Eagle Ford shale.

All
told the recent discovery outside a sleepy Australian town contains
more black gold than in all of Iran, Iraq, Canada, or