web analytics
December 17, 2014 / 25 Kislev, 5775
 
At a Glance
News & Views
Sponsored Post
Knesset and Menorah Lawyers Called Upon to Use Their Legal Skills in Israel’s Defense

Learn about the up to the minute human rights and legal challenges facing Israel, while networking with other likeminded professionals and earning CLE credits in your jurisdictions – all at the same time



‘Quick Peace’ Losing Ground as US Gas and Oil Surpass Arab Production

"Low-cost natural gas is the elixir, the sweetness, the juice, the Viagra."

A natural gas flare illuminates an oil well at dusk in Williston, North Dakota.

A natural gas flare illuminates an oil well at dusk in Williston, North Dakota.
Photo Credit: spokesman.com

Geologists have discovered a layer of shale saturated with natural gas and oil deep beneath the city of Williston, North Dakota, and the Bakken formation, spanning thousands of square kilometers, has become synonymous with an American economic miracle the country hasn’t experienced since the oil rush of 100 years ago, Spiegel reported Friday.

North Dakota now enjoys full employment, and the state budget shows an estimated surplus of $1.6 billion in 2012. Local truck drivers, for example, are earning $100,000 a year. President Obama has called the discovery of Bakken and other shale gas formations in Texas, Colorado, Pennsylvania, Louisiana and Utah a “stroke of luck,” saying: “We have a hundred years’ worth of energy right beneath our feet.”

According to Fortune magazine, low natural gas prices – natural gas in the United States now costs a quarter of what it did in 2008 – could fuel a comeback of American industry. “Low-cost natural gas is the elixir, the sweetness, the juice, the Viagra,” an American industry representative told Fortune.. “What it’s doing is changing the U.S. back into the industrial power of the day.”

According to Germany’s foreign intelligence agency (BND) study, the political threat potential of oil producers like Iran will decline. In about 15 years, optimists predict, the U.S. will no longer have to send its aircraft carriers to the Persian Gulf to guarantee that oil tankers can pass safely through the Strait of Hormuz.

No one knows what would happen with the Russians, since President Putin’s power is founded on oil and gas revenues. If energy prices decline and Russian revenues go down as a result, Putin could be expected to revert to old Soviet methods of maintaining power, both at home and abroad.

The Arab regimes in the Middle East would have to either use their enormous cash reserves to invest in new products and services (see Qatar’s and Bahrain’s efforts to develop a thriving tourism industry), or slip gently into their former role in world politics, amid the sands of Arabia.

According to Spiegel, German chemical giant BASF has already invested a lot of money in the United States in the last two years. In Louisiana, it has built new plants for the production of methyl amines and formic acid. “The local natural gas price is a criterion that affects the question of where we invest in new production facilities,” says BASF Executive Board member Harald Schwager. At the moment, the United States has a clear advantage over Europe in this regard.”

Dr. Aaron Lerner of IMRA summed this up:

#1. In a few years the US won’t be as concerned about what the Arab think. #2. In a few years the Chinese won’t consider energy supplies from the Arab world as being of paramount importance for its own continued stable growth. #3. In a few years even France and Germany may become energy sources rather than importers.

Certainly sounds like Israel will be in a considerably more favorable position at that time.

So much for the argument that Israel should rush now and cut a lousy deal
with the Palestinians because “time is not on Israel’s side.”

About the Author: Yori Yanover has been a working journalist since age 17, before he enlisted and worked for Ba'Machane Nachal. Since then he has worked for Israel Shelanu, the US supplement of Yedioth, JCN18.com, USAJewish.com, Lubavitch News Service, Arutz 7 (as DJ on the high seas), and the Grand Street News. He has published Dancing and Crying, a colorful and intimate portrait of the last two years in the life of the late Lubavitch Rebbe, (in Hebrew), and two fun books in English: The Cabalist's Daughter: A Novel of Practical Messianic Redemption, and How Would God REALLY Vote.


If you don't see your comment after publishing it, refresh the page.

Our comments section is intended for meaningful responses and debates in a civilized manner. We ask that you respect the fact that we are a religious Jewish website and avoid inappropriate language at all cost.

If you promote any foreign religions, gods or messiahs, lies about Israel, anti-Semitism, or advocate violence (except against terrorists), your permission to comment may be revoked.

5 Responses to “‘Quick Peace’ Losing Ground as US Gas and Oil Surpass Arab Production”

  1. Ron Wagner says:

    Natural gas is the future of energy. It is replacing dirty old coal plants, and dangerous expensive nuclear plants. It will fuel cars, trucks, vans, buses, locomotives, aircraft, ships, tractors, engines of all kinds. It costs far less. It will help keep us out of more useless wars, where we shed our blood and money. It is used to make many products. It lowers CO2 emissions, and pollution. Over 4,600 select natural gas story links on my free blog. An annotated and illustrated bibliography of live links, updated daily. The worldwide picture of natural gas. Read in 67 nations. ronwagnersrants. blogspot. com

  2. Ron Wagner says:

    Natural gas is the future of energy. It is replacing dirty old coal plants, and dangerous expensive nuclear plants. It will fuel cars, trucks, vans, buses, locomotives, aircraft, ships, tractors, engines of all kinds. It costs far less. It will help keep us out of more useless wars, where we shed our blood and money. It is used to make many products. It lowers CO2 emissions, and pollution. Over 4,600 select natural gas story links on my free blog. An annotated and illustrated bibliography of live links, updated daily. The worldwide picture of natural gas. Read in 67 nations. ronwagnersrants. blogspot. com

  3. Anonymous says:

    Fracking and the not unpredictable fear mongering perpetually emanating from the hysterical environmental zealots more interested in distorting facts than environmental and economic progress, is the driving force behind this potential, energy based economic boom on the horizon. Hollywood and the Left are in panic mode working up a sweat to keep the fear alive but a recent documentary, "Fracknation" exposes their perfidity for anyone to see. Check it out.

  4. Charlie Hall says:

    This is tremendously good news for the environment. As a result of this boom in natural gas, the US Coal industry is dying, as electric utilities switch to the cheaper and cleaner fuel. Better the coal industry die than all the people coal kills.

  5. Charlie Hall says:

    This is tremendously good news for the environment. As a result of this boom in natural gas, the US Coal industry is dying, as electric utilities switch to the cheaper and cleaner fuel. Better the coal industry die than all the people coal kills.

Comments are closed.

SocialTwist Tell-a-Friend

Current Top Story
Foreign Minister Avigdor Liberman.
Israel’s FM Liberman Declines Swedish Meeting Request Over PA Recognition
Latest News Stories
Foreign Minister Avigdor Liberman.

FM Avigdor Liberman refuses meeting in Jerusalem with Swedish counterpart over PA recognition.

Sony Pictures Entertainment studio, Los Angeles, CA.

The New York premier of Sony’s new film, “The Interview” has been scrapped due to a terror threat.

"Neither side shall initiate or take any step that will change the status of the West Bank and the Gaza Strip pending the outcome of the permanent status negotiations."

The State Dept. re-defines “unilateral” and won’t veto a resolution that does not explicitly ”prejudge” outcome of peace talks.

Palestinian Authority Chairman Mahmoud Abbas.

Two-thirds of the Palestinian Authority fears criticizing leader Mahmoud Abbas, according to the latest poll. Does he still represent the PA people?

After 5 years in jail, Cuba has released Jewish-American Alan Gross.

The Cincinnati case helped clarify what cities can and cannot do concerning access to public places.

In the boy’s bag police found a Chanukiah, oil candles and matches.

The European Jewish Congress (EJC) has expressed outrage over the removal of Hamas from the European Union’s list of officially designated terror organizations, after the European Court of Justice in Luxemburg accepted an appeal filed by Hamas against its inclusion in the list. “We have reached a new low in moral relativity if an organization […]

Jeb Bush announced his intention to “actively” explore the presidency in a Christmas and Hanukkah greeting message. “Merry Christmas and Happy Hanukkah!” the former Florida governor Bush said in a Facebook message posted Tuesday. He described conversations he had with his family over Thanksgiving. “As a result of these conversations and thoughtful consideration of the […]

“We are not satisfied with the European Union’s explanation that the removal of Hamas from its list of terrorist organizations is a ‘technical matter,” ‘Prime Minister Benjamin Netanyahu said on Wednesday following the decision of the General Court of the European Union. “The burden of proof is on the European Union and we expect it […]

Two-thirds of Palestinian Authority Arabs in Judea and Samaria are afraid to express criticism of Mahmoud Abbas, according to a survey carried out by the Palestinian Policy and Research Center. The poll was conducted after Abbas ordered the arrest of leaders of the Palestinian Authority’s largest workers’ union, which he also outlawed.

High housing prices are blamed, but has anyone suggested that working for a living might help?

The decision may boomerang on Hamas once the court studies new evidence to prove Israel’s case.

“This is the earliest evidence of the use of olive oil in the country, and perhaps the entire Mediterranean basin.”

The Palestinian Authority ignores American advice to wait and is to present its proposal for recognition as an independent country at the UN Security Council.

PM Netanyahu lights the first candle of Hanukah with the IDF’s Oketz / Canine unit.  

More Articles from Yori Yanover
rain ATM

A Jerusalem woman is trying to hold on to her umbrella while withdrawing some cash at a Meah Shearim ATM, Sunday, March 9, 2014. The rain appeared out of the blue (which is how rain should), after a warm week that started to feel like summer. Well, it don’t feel like summer no more. Last […]

Rabbi Meir Mazuz (seen visiting a synagogue in Crown Heights, Brooklyn) declared in a public Internet psak that it is legal for a Jew to go up to temple Mount.

Needless to say, Shas, the Haredi Sefardi party, is not happy.

“The only difference between this world and the time of Meshiach is our bondage to the gentile kingdoms.”

Here’s the Israeli Navy boat INS Hanit arriving in Eilat on Saturday, March 8, 2014, after capturing the Klos C, which was carrying dozens of advanced Iranian-supplied weapons made in Syria and intended for Palestinian guerrillas in the Gaza Strip. Here’s Israeli Navy Commander Vice Admiral Ram Rotberg speaking with the INS Hanit soldiers in […]

Pat Condell has a new video out, so, sit back, have fun. By the way, Message to Offended Muslims should not be confused with Message to Off Handed Muslims. Also, I’d love to hear what he has to say about Haredim.

The description that came with this picture says: Israeli Prime Minister Benjamin Netanyahu speaks with American actor Bette Midler during an event at the house of Hollywood producer Arnon Milchan in Hollywood on March 6, 2014. But Bette Midler is not really an actor, she’s a singer who made movies for the LGBT community and […]

We will shut them up in the campuses, we will shut them up in the high schools, we will shut them up at the 92nd St. Y.

An Israeli female soldier (because they’re better at removing babies from their homes) evacuates a baby from a settlement in Judea and Samaria some time in the recent past. I’m thinking, if the baby was angry enough, couldn’t he evacuate in return, right there in her arms? Imagine the same picture, except with a settler […]

Printed from: http://www.jewishpress.com/news/breaking-news/quick-peace-losing-ground-as-us-gas-and-oil-surpass-arab-production/2013/02/03/

Scan this QR code to visit this page online: