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September 2, 2014 / 7 Elul, 5774
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Posts Tagged ‘oil’

More Gas Found Offshore of Israel

Monday, August 26th, 2013

Additional natural gas, and possibly light oil have been found at the Yam 3 drill site, 16 kilometers off the coast of Ashdod, according to a report in Globes.

It’s not yet clear how much gas and oil has been found.

Kerry’s New ‘Peace’ Brainstorm: Talk with Abbas without Israel

Tuesday, July 16th, 2013

U.S. Secretary of State John Kerry left Washington Monday with a new a brainstorm of meeting with Palestinian Authority chairman Mahmoud Abbas in Jordan to advance the dead and buried “peace process” while leaving Israel off the itinerary.

Kerry also will meet with officials of the Arab League, which has backed the 2002 Saudi Arabia plan to “normalize” relations with Israel as soon as the country simply transfers 600,000 Jews from their homes and turns over hundreds of billions of dollars in infrastructure over to the Palestinian Authority, along with all of land in Judea and Samaria and half of Jerusalem.

His itinerary leaves it out in the open that the real powers-to-be are the Arab League countries, the ones with the oil. “We all are familiar with the importance of the Arab peace initiative,” State Dept. Spokeswoman Jen Psaki told reporters Monday. “And the representatives of the Arab League, they’ve asked for an update or they discussed that with him [Kerry] in April. So he’s providing that for all of them on Wednesday.”

The Arab League wants an “update,” meaning what is Netanyahu prepared to give up this time around?

Psaki could not provide any reason for Kerry’s not planning to go to  Israel and to meet Abbas in Jordan, and not Ramallah.

“We have no plans to visit Israel. If there are additional meetings – I expect we’ll know later this afternoon,” Psaki added.

This whole trip sounds freaky. Kerry it not planning to meet with Prime Minister Netanyahu and does not even know which Arab League officials will receive him, according  to the spokeswoman. But she added,  “We’re still finalizing the meetings.”

“The Secretary would not be going back to the region if he did not feel there was an opportunity to keep making steps forward and providing an update to representatives of the Arab League as part of that.,” Psaki said Monday.

Kerry apparently has lots of ideas that something dramatic will occur,  which is exactly is what everyone was led to believe last month when he tossed his schedule into the trash can and remained in the region for an extra day.

So what happened? Nothing.

Kerry left a day later than planned with no press conference, no joint statements, no nothing except to say that “real progress” had been made and said that a resumption of talks “could be within reach.”

The Hebrew-language Yediot Acharonot newspaper last month reported that Kerry had threatened Abbas to soften off or face receiving zero dollars from the United States in the future.

Kerry is not bothering with Netanyahu now.  Abbas has set pre-conditions before resuming direct talks, which he calls “negotiations,” meaning “give me what I want or I will take it myself.” Kerry wants to break  Abbas, and if he succeeds, then the monkey is on Netanyahu’s back.

It is an old story that goes like this: Abbas insist all or nothing, Then he “compromises” and insists on only a part of his demands, leaving the rest of them for the next round.

Israel then is faced with a phony “Great Compromise” and obviously is not interested in peace if it does not accept such a grandiose gesture.

If Kerry does not succeed, he will probably be back for a seventh time, leaving less important matters such as Syria and Egypt to underlings.

Terror on the Roads: Arabs Oil Up

Sunday, May 26th, 2013

For the second time in just over a week, Arabs have poured oil on the main road connecting Highway 60 to Beitar (near Efrat), in the middle of the night.

A little over a week ago, Arabs poured oil on the same road causing a car to spin out of control and crash.

The fire department was sent to clean up the oil.

On Friday, Efrat residents protested the lack of security on that and other roads in Gush Etzion.

More Natural Gas Found

Thursday, May 16th, 2013

On Wednesday evening, the Delek Group announced that they believe they’ve found an additional 57 billion cubic meters (2 trillion cubic feet) of natural gas at the Karish (“Shark”) 1 well. Updated estimates, on Thursday morning, are now saying there is possibly 80-100 billion cubic meters.

The drilling began in mid-March, and was expected to go on for 3 months.

The Karish well is 75 kilometers north west of Haifa. The waters depth is 1,740 meters, and they will be drilling down 4,900 meters.

This well is being drilled by Noble Energy (47.1%), Yitzhak Tshuva’s Delek Drilling (26.4%) and Avner Oil and Gas (26.4%).

The issue of what to do with the gas is a controversial subject in Israel, with some sides saying it should be exported, while other saying it should all be kept for domestic use.

Government profits from the gas are going to be put into a special fund, but JewishPress.com has been calling for Israel to follow the Alaska model introduced by Sarah Palin, where State income and sales tax have been cancelled, and citizens of Alaska personally receive checks from the oil revenue royalties and taxes.

Palin introduced the concept that the natural resources of the state belong to the citizens of Alaska, and they should profit from it directly.

Warren Buffet Buys Out Israeli Firm for $2 Billion

Wednesday, May 1st, 2013

Warren Buffett’s Berkshire Hathaway is paying $2.05 billion for the remaining 20 percent of IMC International Metalworking Co, otherwise known as Isracar, completing the buyout that began with the giant $4 billion purchase of 80 percent of the company in 2006.

“We are delighted to acquire the portion of the company that was retained by the Wertheimer family when IMC first became a member of the Berkshire group of companies,” Buffett said Wednesday in a statement.

“As you can surmise from the price we’re paying for the remaining interest, IMC has enjoyed very significant growth over the last seven years,” Buffett, 82, said.

Isracar employs more than 2,000 people in Israel and 7,500 others around the world.

Buffett has literally fallen in love with Israel. The 2006 purchase of most of Isracar was Buffett’s largest-ever investment outside of the United States.

When he visited Israel prior to the spectacular purchase of the precision carbide cutting tools company, he said, “If you’re going to the Middle East to look for oil, you can skip Israel. If you’re looking for brains, look no further. Israel has shown that it has a disproportionate amount of brains and energy.”

Since then, an American-Israeli consortium drilling off the Haifa coast has made the world’s largest discovery of natural gas in the past 20 years, with a strong possibility of commercial quantities of oil.

Buffet’s purchase of the rest of Isracar on Wednesday helped strengthen the shekel against the dollar, with the going rate for a greenback now less than 3.58 shekels.

Israel Awards First-Ever Oil Drilling Permit in Golan Heights

Wednesday, February 20th, 2013

Israel has awarded the first-ever oil drilling permit in the Golan Heights.

On the eve of almost every high-level visit to Israel by US officials, the Israeli government habitually has angered the American government by coming up with an approval for building in Judea and Samaria or areas in Jerusalem that are claimed by the Palestinian Authority.

Israel officially annexed the  Golan Heights in 1980, but the United States does not recognize the area as Israeli. The State Dept. is likely to criticize the permit, but it may not cause a rift in President Barack Obama’s visit next month because the area is claimed by Syria and not by the Palestinian Authority.

The license was awarded to Genie Energy, which is headed by none other than Golan Heights resident and former IDF general and Likud Cabinet minister Effie Eitam, who fought against Syria in the Golan front in the Yom Kippur War in 1973.

The company’s shareholders include Lord Jacob Rothschild, and Rupert Murdoch, Globes reported, and one of the company’s advisers is former US Vice President Dick Cheney.

Geological tests have indicated the potential for an oil discovery in the Golan Heights.

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.

Printed from: http://www.jewishpress.com/blogs/fresno-zionism/how-israel-should-use-its-new-found-energy-wealth/2013/02/03/

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