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Israel’s oil reserves

Surfing on the blogs, I came across this item that I have not seen anywhere else. Israel has, potentially, some pretty handy oil resources.

Wow, better tell Halliburton & all those nasty right-wing neocons and advise them to cook up some fake reason for invading the place…

This article has more.

17 comments to Israel’s oil reserves

  • Ian

    I saw a programme on TV once that suggested some Christians think the discovery of oil in Israel is an event that would mark the “end times”. Just thought I’d mention it.

  • John B

    The coverage of the ‘Leviathan’ oil find in Israeli has been fairly subdued.
    I have said elsewhere that they should develop it fast before the powers that wish to destroy Israel as a Jewish state (most of the powers-that-be) move in on the situation.
    It seems to happen that just as victory can be possible, defeat is achieved.
    There are other reserves elsewhere in Israel territory.
    I’m sure Halliburton know all about them.

    But there is so much that does not make sense in world events.
    America has the ability to be completely self-sufficient in oil, but it seems it chooses to place itself at the mercy of less technologically advanced cultures that are more interested in short term advantage and blackmail rather than genuine development.

  • Richard Thomas

    John B: Why exploit your own resources when other countries will sell you theirs for cheap? Then when everyone runs out, you still all have yours you can sell for dear or keep to yourself.

    The structure of middle eastern countries leads to an interesting dynamic. They are basically mostly poverty stricken countries with the poor owning next to nothing and with a very few people controlling the oil resources. Thus interest is not in careful resource husbandry (the countries have very little use for the oil themselves) but mostly keeping large amounts of cash flowing in. If this means selling oil like it’s going out of fashion, so be it.

    This has the added advantage to the west that once the middle east runs out of oil resources, they are much less of a threat on the world stage.

    At least I’d like to think that there’s at least that much thought going into it. I know government seems to do a lot of odd things sometimes but (other than idiocy perpetrated by politicians), I’d like to think there’s some very smart people up there with an understanding of international affairs that goes way beyond what we see on the surface.

  • Ian: those Ch…..ans may just be proven right, although maybe not in the way they have in mind. FWIW, this Israeli citizen almost wishes that it comes down to nothing much.

  • Robert Speirs

    Ah, social-fascism comes to Israel! I’m not sure I’d suggest that our US military invade Israel. They might be a bit of a harder target than Iraq or Afghanistan. And I’m sure they know interesting things about American politicians. And there would be no guessing about whether they possess WMDs.

  • Ah, social-fascism comes to Israel

    No, it doesn’t – Israel was actually founded on it. We’ve been getting over it, but very, very, very slowly.

  • Sunfish

    Does Israel have oil reserves, or does the guy who owns the stuff underneath a given movie theater/sushi bar/whatever have oil reserves?

    Or, in Israel, is this a distinction not worth mentioning?

  • Nuke Gray

    Israel has oil reserves? Have I mentioned how much I love all Israelis? when will you sell us some of this oil? Perhaps now is the time to mention that Malcolm Turnball, who could have been our Prime Minister, has a seat in Sydney’s Eastern suburbs- which is full of Temples and menorahs!

  • Nuke Gray

    Have I mentioned before how much all Australians love Israel, and Israelis? how many other countries have names that, in English, are also theological questions? Is Ra El? Oh, sure America becomes Am Erica, but what sort of theology is that?
    If you’ve got lots of the stuff, your new name might be Isroil!

  • John B

    Richard Thomas:
    Because in the process of buying other people’s oil cheap you are busy destroying your own middle class. Oh, of course, silly me, that’s what they want to do.

    Israel, as a Jewish nation, is sitting on the edge of a cliff. It is being pushed into a political situation of complete delegitimisation.
    I seriously do see the whole problem being internationalised, because “there will be no other solution”.
    Then the whole area can be de-Westernised.
    After that you can expect the situation to be moving to a place near you, if you live in a western culture environment. If you don’t, you probably know what can be expected. If you do, you may stop playing with words and seriously consider that we are in trouble.
    It would seem to appear that the aristocrat, fabulously wealthy elite intends for you to become a serf, or worse.

    Why, Alisa, would you almost wish it not to be true?
    If Israel can develop that strategic strength without being tricked out of it (and Israelis are quite clever, but why they don’t expose the al Dura hoax I still don’t understand) then they will not be so much at the mercy of the US, EU, and everyone else who wants to screw them.

  • You didn’t click on those links I posted, John, did you?

  • Paul Marks

    Good point Sunfish – private ownership, not the ownership by a nation.

    The same is true for the United States – most oil shale (and so on) is NOT under National Parks, it is under Bureau of Land Management land (not the same thing at all) and other such.

    Such land should be sold – and then the private owners (who might be rich Californian Greens) should decide whether or not they wish oil and gas extraction.

    Of course, under the United States Constitution, there is no provision for National Parks (the Federal government is allowed to own land – but only for its capital and for military purposes, see Article One, Section Eight, Subsection 17). So areas of outstanding natural beauty should be private parks – or State parks, not “National Parks”.

    However, I repeat, most of the contested land is not National Park land anyway – it is BLM land and other such.

  • John B

    Alisa. I’m afraid I didn’t. Apologies. Was in a rush this morning.
    I see, yes, the people are supposed to be demanding the oil. You know, in Israel’s case I could almost go with that. Oops, there went a heresy.
    But. Yes. Well. The biggest businesses, banks, etc, of course become the Government. They just wear different hats depending on the role being conducted.
    Joe People doesn’t really get too many bites of the apple, whichever way he goes.
    When the powers-that-be see there is a claim on an asset they just put on their state, or union, or whatever hat, and nationalise it or clamour for it to be nationalised.
    It is a con.

    Paul. More than the shale deposits I am referring to the wells, already drilled and capped it seems, just north of Alaska.

  • The biggest businesses, banks, etc, of course become the Government.

    Yes, they do, but…The big business in question, Yitzhak Tshuva, as well as foreign investors, risked their own money. Well, maybe mostly their own, but still. The whole nationalization campaign, as well as calls to retroactively raise the tax on gas sales, is sickening.

  • Sunfish

    Such land should be sold – and then the private owners (who might be rich Californian Greens) should decide whether or not they wish oil and gas extraction.

    Never mind them. The BLM leases land for all sorts of purposes, most of them foolish. You can run cattle on their land at about a third the going rate to lease private land of comparable grazing quality. However, they won’t give a lease to anyone who won’t actually run cattle. If I wanted to pay double in order to exclude cattle (or buy it outright as you say above), those options are not on the table.

    As the current Secretary of the Interior (in whose department the BLM falls) is a Dem hack lawyer who’s a product of a Colorado ranching family, I’m not optimistic about the possibility of changes in the near future.

    Another problem, here, is that even if the surface is privately-owned the surface owner cannot exclude mineral development. Quite simply, I own a piece of land but I do not own either the minerals underneath or the water[1]. Not only that, but a surface owner has no real legal right to exclude the owner of the mineral rights or to prevent him from exercising those rights. Any damage to the surface is a tort, sure, which is meaningless to the surface owner until the damage actually occurs.

    Knowing what little I know of Israel’s history I’m not optimistic that things will be better there in the case at hand, but I say that from ignorance more than knowledge.

    [1] Water law in the western US may be best summed up as “Holy Jesus, what a f***ing mess.” If I put a barrel under my downspout and use the water caught to water my tomatoes, technically I’ve committed theft with the victim being whoever owns the surface water rights here. Usually the owner is either a city or a land developer, and not necessarily the city or the development in which the rain barrel is placed. Aurora is notorious for this.

  • Rich Rostrom

    Some notes: the NRO report is of a very modest oil find – not even enough to meet Israel’s needs. The Arutz Sheva report is 30-60 times larger, and would be a game changer. But Israel would still be much smaller oil-wise than for instance Mexico.

    The natural gas discoveries are old news. Hezbollah is saber-rattling, but I doubt they will do anything openly. Such attacks would be a clear casus belli.

    The gas fields could do a lot for Israel’s economy. I don’t think however Israel will have enough exportable gas to affect the world market or support a major ally.

  • That’s a shame Rich.

    It would be nice if us Europeans could pipe the stuff in from a sane country for once and not really on the likes of Mr Putin. When the North Sea stuff runs out we is screwed. Not least because building new fission plants in the UK is so fraught with GROLIES tying themselves to the chain link etc. “Renewables” are by and large a joke (a very expensive one). Indeed even more expensive than they let on because the grid is having to be refurbished at huge expense to deal with the simple fact that we can’t control the wind. If we are going for wind in a big way then we have to smooth the ‘tricity output by very clever switching of things that can be got up to speed quickly. That’s gas stations. No alternative. Coal isn’t as controllable and quite frankly building a coal plant is almost as unpopular as nuclear.

    Now I know what you are thinking. Sounds like a “national energy policy”? Sounds a bit statist. Yes, but that is how the land lies at the mo. If only people could appreciate quite safe nuclear is we wouldn’t be in this mess. Nick’s Atoms PLC could build a nuke station and if it goes badly wrong (highly unlikely) then they can take my thumbs or whatever. I suppose we could regulate the nuclear industry to buggery (we do already) but of course that is not the answer. I mean let’s face it who owned Chernobyl? Exxon, BP, Halliburton… No, a state. Try hammering that through the skull of the average Joe and…

    It’s a right mess and it scares me. Because we can’t live without electrons whizzing. If you go over to my blog (and many others) you will find on the siderbar something about how O2 the mobile phone lot are sponsors of 10:10. I assume they have a contingency to replace their electromagnetic waves with sprites or some such…