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Wednesday, June 16, 2010

And now an oil war?

Over the past few months, Israel has had a couple of major natural gas finds in the Mediterranean off our northeast coast. The finds are so significant that Israel could find itself energy independent, which is quite important to us given the Arab refusal to sell oil to us.

Although the wells are in Israeli territorial waters, and although private investors in Israel have spent millions of dollars exploring the wells (I had occasion to review several of the prospectuses that raised money for the exploration), Hezbullah - yes Hezbullah - is now trying to lay claim to them.
The terrorist organization warned that it will not allow Israel to take possession of the offshore fields, which could make the Jewish State energy self-sufficient for the first time in history.

The As-Safir Lebanese newspaper told its readers that the gas field “was located between Israeli and Cypriot territorial waters and stretches toward the Lebanese coast.”Lebanese newspapers also reported that previous Israeli gas finds “were either taking place in areas stretching to Lebanese territorial waters or other spots far away from the Israeli coast.”

Hizbullah’s claims were stated by the party’s executive council chief Hashem Safieddine, who was quoted by the Tehran Times as saying it would not allow Israel to “loot” Lebanese gas resources.

Lebanese parliamentary speaker Nabih Berri previously said, “Israel is racing to make the case a fait accompli and was quick to present itself as an oil emirate, ignoring the fact that, according to the maps, the deposit extends into Lebanese waters. Exploring our options in this field is our best bet to pay off Lebanon's debts.”

The Israeli government immediately responded to the Lebanese claims, saying they are totally unfounded and that all of the gas and oil fields are off the coast of Israel and not Lebanon.

Dr. Yaakov Mimran, director of energy exploration for the National Infrastructures Ministry, called the claims "nonsense.” He added, "These noises occur when they smell gas. Until then they sit quietly and let the other side spend the money.”

Marine law expert Amir Cohen-Dor told the Globes business news service that the Dalit and Tamar gas fields are within Israel's contiguous economic zone, and that United Nations regulations clearly state that Israel can develop them.
That's all well and true, but as you all know we're Israel and we're judged by a different standard in anything having to do with the 'international community.'

What could go wrong?


At 6:23 AM, Blogger NormanF said...

The Israeli Navy would have to be prepared to sink Hezbollah terrorist boats to protect Israel's natural resource claims.

One wonders if the Stupid Jews will do it after the beating they took over the last two weeks.

What could go wrong indeed

At 7:53 AM, Anonymous Anonymous said...

Carl, sadly the gas will be sold to the world and then our children will then have to depend on Iran, Saudi etc.

One note if I may, we have enough problems facing us today. Would it be possible to tone down the 'Stupid Jews' rhetoric. I certainly don't agree with many of the decisions and am as frustrated as yourself. But, seeing this comment come out from a Charedi Jew, then repeated on the comments by certain individuals is problematic. I agree at times the decisions are incredibly stupid and may feel that some Jews are being 'stupid', but let's not publicize it to the goyim. If your rav believes one should refer to Jews as being stupid in public, that would explain it. Shame.....

At 10:02 AM, Blogger NormanF said...

Shiloh, the wonderful irony is Jews are an intelligent and productive people in everything but politics. There is more right with Israel than there is wrong. Most Israeli Jews do get it even when their government screws up. The reason the Arabs are jealous of Israel discovering a vast field of natural gas offshore is because they wouldn't look for it themselves. That's why they hate Jewish people. They will never try to honestly compete with Israel. Its not just spite, there is pure envy involved. They just cannot stand it when the Jews are smart. And that my friend, happens a lot more often then when the Jews screw things up.

You just won't read about Israel's accomplishments in the media, so we're getting a woefully distorted picture. And I have a great deal of confidence in Israel's future, even if its government leaves a lot to be desired.

At 11:17 AM, Blogger The Lone Cabbage said...

Shiloh: The gas will and should be sold to the open market. It does us no good in the ground. And building those rigs will cost a lot of money, more money than could be extracted from the local market.

Pump it out, sell it off, and turn it into cash, while people are still buying petroleum products. Encourage (as Bibi is doing) as many investors as possible to reinvest that money back into Israeli research and productive infrastructure. The benefits from these finds will greatly out last gas in the wells.

Self sufficiency is the road to poverty.

At 11:28 AM, Anonymous Anonymous said...

i think its very simple

just turn to the lebanese bastards and say....


I DRINK IT ALL UP!!!!!!!!!!

case closed


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