Shale oil discovery to change balance of power?
I have discussed Israel's newly discovered massive oil shale deposits several times, most recently here. Will the oil shale change the balance of power in our region? I suspect that this article overstates the case, but it's a nice thought. It will take years – probably decades – for Israel to reach maximum production from its vast reserves of shale oil. But odds are that the Shfela Basin will change the global balance of power long before then. Indeed, it will effectively change the balance of power the day it exports its first barrel of oil. This shouldn’t take long. With such investors as Lord Rothschild (the banker and philanthropist), Rupert Murdoch (the media magnate) and Dick Cheney (the politician), Israel should be pumping oil within three or four years. Also on board is Shell Oil’s remarkable top scientist, Harold Vinegar, who says the Shfela oil is not only abundant but premium quality as well: “The equivalent of Saudi extra-light.”Nirvana!
Israel knows the perils of relying on tyrants for oil: Russia suspended its delivery of oil to Israel during the country’s 2006 war with Hezbollah. Israel needs first to secure its own energy independence. But one day – count on it – Israel will match Canada in oil exports to the U.S. and thus free its long-time friend from needing to deal with tyrants.
Labels: oil shale
posted by Carl in Jerusalem @ 2:36 PM
4 Comments:
and if israel can come up with a better way of frakking, they can sell it to the us
and then maybe cottage cheese will be affordable
Anything good brought out of the land in Israel (water, crops, oils & minerals) will lead to more Arab coveting & jealosy for that which they inefficiently or ineffectively engineered, harvested, or mined from their own lands.
Not to say the shale shouldn't be explored; it's just a statement of the inevitable.
It will change the balance of power because people in Israel who want to drill will have to politically overcome the leftist religion of gaia the patron saint of the environment. The gaia people, all over the world, will block any energy project that makes life better for those who strive and achieve, because it is unfair according to their theologist, Marx. Technological excellence achieved over these recent years will make no dent in the gaia religion, because it does not fit the theology.
So, Israel will join Texas and other ethical states in fighting the battle to produce energy, so that people can earn a living and feed the dispossessed.
This is wonderful news for Israel. Mazel Tov! Developing these massive shale oil deposits ought to now be THE top economic priority for Israel. The sooner Israel is pumping millions of barrels of shale oil per day, the better.
The benefits, in no particular order, are full energy independence for Israel; massive earnings of foreign hard currency for oil exports; a massive boost to Israel's economy (that could allow, among other things, significant lowering of all Israeli tax rates); concomitant increase of Israeli influence on the nations who buy it's oil (along with a concomitant decrease in the earnings and influence of the West's "friends", the Arab Gulf states.)
Of course, as is the case in all the Western Democracies with energy resources, you're also going to have to politically defeat the power and influence of all the leftist environmentalists, the Eco-Warriors who, using the Big Lie of man-made Global Warming and man-made "Climate Change", hate and attack petro-energy, petro-drilling, industrial development, actually overall hating capitalism, free enterprise.
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