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April 1, 2015 / 12 Nisan, 5775
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Posts Tagged ‘gas’

Fischer Launches New War on Shekel-Dollar Rate

Monday, April 8th, 2013

Bank of Israel Governor Stanley Fischer launched a new war on the falling shekel-dollar rate Monday and ordered the purchase of $100 million of greenbacks, soon after the rate dropped close to 3.59 shekels to the dollar for the first time in nearly two years.

The massive purchase catapulted the rate from the 18-month low of 3.592 to 3.62 in only a few minutes.

The shekel has strengthened this year, receiving recent support from expectations of positive fallout from the beginning of the flow of Israeli natural off-shore gas.

A strong shekel is great news for consumers buying items imported from the United States, but it sends shivers through Israeli companies with revenues in dollars. After converting income to shekels, the firms are left with less money, and their executives are constantly pressuring the Finance Ministry and the Bank of Israel to take measures to raise the currency rate.

Tshuva: No Shabbat Desecration Occurred

Friday, April 5th, 2013

Yitzchak Tshuva, one of the investors in the Tamar gas field said that no desecration of the Shabbat or Pesach holiday happened with the gas flow, according to a report in Kikar Shabbat.

“Shabbat is the source of our blessing,” Tshuva said. He emphasized that no ceremony was held on Shabbat or the Holiday.

Tshuva said that all the work was being done by Noble Energy, the operating partner in the gas field, and they began the process weeks ago. The gas arrived into Israel on the eve of the last day of Pesach, and that the flow of the gas is an ongoing process which took time until it reached Ashdod.

Yitzchak Tshuva expressed regret that the gas flow’s arrival physically into Israel was being presented as having desecrated the Shabbat or the Pesach Holiday.

How Israel Should Use Its New Found Energy Wealth

Sunday, February 3rd, 2013

On the one hand, Israel is on the verge of a positive development whose importance is hard to underplay. As Caroline Glick described it,

This weekend Israel reportedly conducted its first successful test pumping of natural gas from the offshore Leviathan natural gas field. In the next four years, Israel will become a major natural gas exporter and will make great strides in developing its recently discovered shale oil deposits. Israel’s emergence as an energy exporter will have a transformational impact on Israel’s economic independence and long-term viability. [my emphasis]

But on the other hand, the security challenges Israel faces today from Iran, Hizballah, Egypt, Hamas, etc. have never been greater. The international delegitimization campaign against it, led by the U.N. and financed to a great extent by the European Union continues to gather steam. Jew-hatred and anti-Zionism have merged, with the former gaining cover from the latter, creating the least favorable social climate for the Jewish people since WWII. Academia is almost universally hostile, and Israel (and Jewish students) are attacked more viciously on college campuses than ever.

So how can Israel’s new energy resources be given a “transformational impact” on these problems? Here are a few ideas:

First, Israel should make mutually beneficial agreements with the major transnational energy companies. It should be made clear that these deals are contingent on their support for Israel’s political goals. It certainly worked for the Arabs — I remember Exxon Corporation publicly calling for a more “even-handed” approach to the Middle East immediately after the war in 1973. I have often speculated that the influence of these companies has been responsible for the irrational but unswerving U.S. policy to try to reverse the outcome of the 1967 war.

Second, Israel should give generous gifts of its soon-to-be-available gas and oil dollars to major universities in Europe and the U.S., to establish departments of Jewish and Israel studies. These departments should be staffed by academics who do not hate Israel and the Jewish people (I’m sure they can be found, especially when there are endowed chairs for them to sit in).

Third, Israel should build a massive satellite TV/radio/Internet channel, broadcasting in multiple languages to all parts of the world. This channel should present entertainment, news and cultural programming attractive to as wide a range of viewers/listeners as possible. Again, media people who who have positive attitudes will appear when the opportunities for employment do.

Fourth, Israel should create independent think-tanks and scientific institutes in major democratic countries which will produce papers and articles — academic and popular — on important topics. Some proportion of the jobs in these institutes should be reserved for retired politicians.

Fifth, Israel should award international prizes for achievement in scientific and cultural fields.

Sixth, Israel should establish an institute for technical training where promising students from developing nations can come and study at no cost.

And seventh, despite all this, Israel must maintain and improve its military capabilities to deter aggression and terrorism.

Visit Fresno Zionism.

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

Sunday, February 3rd, 2013

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.”

US: Syrian Chem Weapons ‘Locked and Loaded’ on Rockets

Thursday, December 6th, 2012

According to several American television networks, U.S. officials have revealed that the Syrian military is just waiting for the “go” order from the embattled President Bashar Al-Assad.  When Assad’s order comes, aerial warheads which some say have already been locked and loaded with deadly sarin gas will be dropped on the Syrian opposition from dozens of fighter bombers.

Sarin, a colorless and odorless gas, is one of the most lethal chemical weapons.  It is capable of killing thousands of people across a wide swath of land. The gas paralyzes the central nervous system; victims suffocate because their lungs are paralyzed.  Just one drop of sarin can kill a person within minutes.

Speaking at NATO headquarters in Brussels on Wednesday, December 5, U.S. Secretary of State Hillary Clinton said,”Ultimately, what we should be thinking about is a political transition in Syria and one that should start as soon as possible.”  She added, “we believe their fall is inevitable. It is just a question of how many people have to die before that occurs.”

Nearly 40,000 have died in the civil war in the 18 month-long Syrian civil war, and 400,000 have fled as refugees.

Australian Gas Giant Buys 30% of Israel’s Leviathan

Monday, December 3rd, 2012

The operator of Australia’s Pluto liquefied natural gas project, Woodside Petroleum, will buy a 30 percent share in Israel’s Leviathan natural gas field for $2.5 billion, becoming a strategic partner in the drilling.

Woodside, Australia’s second largest oil and gas producer, will make a first payment of $696 million.

Leviathan is expected to start producing usable gas in 2016.  The value of the field is estimated at $8.3 billion.

Israel Corp, Tamar Oil Partners Sign $4 Billion Gas Contract

Monday, November 26th, 2012

Israel Corp. and the Tamar partners signed a $4 billion contract on Sunday, agreeing that Noble Energy, Delek Group, Isramco and Alon Natural Gas Exploration would provide for Israel Corp’s gas needs.

The deal turned Israel Corp into Israel’s second largest natural gas consumer, after the Israel Electric Company.

Though Israel Corp will be needing $10 billion worth of gas, the deal is for the short term, in anticipation of the entrance of competing gas suppliers, including Leviathan.

The deal will enable Israel Corp subsidiaries Israel Chemicals, Oil Refineries Ltd. And OPC Rotem to buy 16-20 billion cubic meters of gas from the Tamar field.

The deal comes after the collapse of an agreement between Israel Corp and an Egyptian gas provider following the fall of President Hosni Mubarak.

Printed from: http://www.jewishpress.com/news/israel-corp-tamar-oil-partners-sign-4-billion-gas-contract/2012/11/26/

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