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Switch to Forum Live View Israel Discovers New Giant Off-Shore Oil and Gas Field
2 years ago  ::  Jun 03, 2012 - 12:48PM #1
rocketjsquirell
Posts: 16,597
More good news!!!!! 3 years to Israeli enregy self -sufficiency and just a little more until Israel becomes an oil exporter. I wonder if they will be invited to join OPEC? Smile

Israel Discovers New Giant Off-Shore Oil and Gas Field
Another off-shore oil and gas find buries even deeper the old joke that Moses took the wrong turn. Stepping into the Red Sea a good sign?
. . .
An Israel energy company announced Sunday it has discovered an off-shore energy field that may even surpass previous finds in terms of the possibilities of developing commercial grade oil.

Israel Opportunity Energy Resources LP announced that its Pelagic licenses indicate 6.7 trillion cubic feet (TCF) of gas and 1.4 billion barrels of oil. By comparison,  the previously announced Tamar and Leviathan off-shore fields contain an estimated 9 and 17 TCF of natural gas. The amount of commercial oil, if any, has not been finalized, but estimates of possible oil in the Leviathan field have been downsized to 600 million barrels.

Discoveries of oil and gas have made outdated the old joke that Moses took the wrong turn from Egypt, leading Israel to sand and leaving oil for the Arabs.
. . .

full article
www.israelnationalnews.com/News/News.asp...
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2 years ago  ::  Jun 03, 2012 - 12:56PM #2
LeahOne
Posts: 16,476

And as we should all know, NG is a much cleaner fuel than oil:  it's great for fueling electic power plants and other huge installations, as well as heating homes, etc.  No smelly fuel trucks clogging the roads, no need to worry about when the truck will show up - the NG just keeps flowing : ))


And best of all, they can start using all-electric vehicles over there - so no more auto exhaust in Jerusalem! : ))


 

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2 years ago  ::  Jun 04, 2012 - 9:33AM #3
rangerken
Posts: 16,408

If true...and I sincerly hope it is...this is wonderful news! Anything that makes Israel stronger without 1. depending on surrounding countries, but also 2. that does not injure surrounding countries, is a very GOOD thing.


Ken

Libertarian, Conservative, Life member of the NRA and VFW
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2 years ago  ::  Jun 04, 2012 - 3:24PM #4
BDboy
Posts: 6,217

Jun 4, 2012 -- 9:33AM, rangerken wrote:


If true...and I sincerly hope it is...this is wonderful news! Anything that makes Israel stronger without 1. depending on surrounding countries, but also 2. that does not injure surrounding countries, is a very GOOD thing.


Ken




 


>>>>>> Sure. It is a good thing for Israel. Glad to hear the news.

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2 years ago  ::  Jun 05, 2012 - 1:27PM #5
Merope
Posts: 10,618

Not being knowledgeable about these oil and gas fields, I'd like to ask:  Is the magnitude of these recently discovered fields comparable to, say, that of fields discovered (or tapped into) some years ago off the coast(s) of Norway?  I'm curious because the Norwegian discoveries really turned Norway's economy around - in a good way, of course.  For one thing, they ended up insulating Norway, to some measurable degree, against the worldwide economic downturn.


So are we talking something of this magnitude with these newly-discovered fields?  If so, that could basically be a life-changing event - over a period of years - for Israel, its economy, its sense of security, its citizens, and, well, pretty much everything in a really wonderful way. 


I'm also wondering what - if any - political effects the discovery might have on Israel's relationships with Gaza and the West Bank?   

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2 years ago  ::  Jun 05, 2012 - 8:41PM #6
rangerken
Posts: 16,408

I think that the results politically will depend a lot on who has the ability to exploit this discovery. Right now the Israelis have the ability. So do several Arab countries. However, Egypt and Lebanon, the countries that are on the Med close to the find do NOT have the ability...though I'm sure they could get assistance. We also need to consider Gaza, which is on the Med, which has zero ability to do much of anything, but will surely demand some benefit from this find since Gaza seems to border on it.


Ken

Libertarian, Conservative, Life member of the NRA and VFW
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2 years ago  ::  Jun 06, 2012 - 5:30AM #7
BDboy
Posts: 6,217

Jun 5, 2012 -- 8:41PM, rangerken wrote:


I think that the results politically will depend a lot on who has the ability to exploit this discovery. Right now the Israelis have the ability. So do several Arab countries. However, Egypt and Lebanon, the countries that are on the Med close to the find do NOT have the ability...though I'm sure they could get assistance. We also need to consider Gaza, which is on the Med, which has zero ability to do much of anything, but will surely demand some benefit from this find since Gaza seems to border on it.


Ken




 


>>>>>>> Good point. As long all aspects of lives of Gazans are controled by Israel (Movement, trade etc), Israel has to take SOME resposibilities about those occupied people.


If Israel settles for two state solution, it will lessen expectations and moral responsibility of lives in Gaza. Until then Israel has to do it's part as an occupier of Gaza.

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2 years ago  ::  Jun 06, 2012 - 8:00AM #8
LeahOne
Posts: 16,476

BD:  It's HAMAS which controls Gaza INternally - including creating the fuel 'crisis' which led to power shortages.  Israel is NOT responsible for that.


Since Israel left Gaza several years ago, the talk about 'Israel controls and therefore is responsible for Gaza' is plainly nonsense.  Unless one also states, for example, that HAMAS effectively controls movement, etc in Sderot and throughout the Negev by means of the rockets they keep shooting in?


Less propaganda and more facts:  If some other nation would partner with Gaza, they could provide the capital and expertise for the Gazans to exploit their own  offshore oil/NG reseources.  But as long as a corrupt kleptocracy like HAMAS is left in charge, the lives of the Gazan people will NOT be much better:  the bulk of all assets will be siphoned off as they've been in Egypt, in Libya, and in other oil-rich nations.  And the average person will see very little change.

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2 years ago  ::  Jun 06, 2012 - 9:37AM #9
shmuelgoldstein
Posts: 2,500

Jun 5, 2012 -- 1:27PM, Merope wrote:


Not being knowledgeable about these oil and gas fields, I'd like to ask:  Is the magnitude of these recently discovered fields comparable to, say, that of fields discovered (or tapped into) some years ago off the coast(s) of Norway?  I'm curious because the Norwegian discoveries really turned Norway's economy around - in a good way, of course.  For one thing, they ended up insulating Norway, to some measurable degree, against the worldwide economic downturn.


So are we talking something of this magnitude with these newly-discovered fields?  If so, that could basically be a life-changing event - over a period of years - for Israel, its economy, its sense of security, its citizens, and, well, pretty much everything in a really wonderful way. 


I'm also wondering what - if any - political effects the discovery might have on Israel's relationships with Gaza and the West Bank?   




I do not know the size of these discoveries, but coupled with other recent discoveries, it's big, no question about it.


The economy in Israel, ב"ה' is in pretty good shape, even without the oil and gas. This should improve things even more.


I believe that at one point Israel offered the PA an area of the eastern Mediterranean as the PA's unique economic zone, but I have not seen or heard of a formal agreement. If I am not mistaken, the offer was a wedge-shaped area from the coast of Gaza that tapers to a point something like 100 miles off the coast. To the north is the Israeli area, to the south is Egyptian. Israel does not do any exploring in this area of the coast of Gaza. The PA cannot claim any of these recent finds (which are off the coast of Haifa, far from Gaza) unless they want to make a claim on all of Israel as "Palestine". That would move their claim into a different context.


There is an area along the natural maritime line between Israel and Lebanon which is in dispute. Israel claims a certain line, and Lebanon claims a different line, a bit further south. The difference has to do with the shape of the coast at the border point. There is at least one oil/gas discovery in this area. Israel has stated it will defend its claim, and Lebanon (or rather, Hizbullah) has made several belligerent statements regarding this area.


Israel has signed an international agreement with Cyprus regarding their mutual maritime boundary. I am surprised to learn that they have not done so with Egypt. Turkey, which rules North Cyprus, has objected to parts of the maritime border between Israel and Cyprus.


www.globes.co.il/serveen/globes/docview....


 


 

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2 years ago  ::  Jun 06, 2012 - 9:59AM #10
BDboy
Posts: 6,217

Jun 6, 2012 -- 8:00AM, LeahOne wrote:


BD:  It's HAMAS which controls Gaza INternally - including creating the fuel 'crisis' which led to power shortages.  Israel is NOT responsible for that.


Since Israel left Gaza several years ago, the talk about 'Israel controls and therefore is responsible for Gaza' is plainly nonsense.  Unless one also states, for example, that HAMAS effectively controls movement, etc in Sderot and throughout the Negev by means of the rockets they keep shooting in?


Less propaganda and more facts:  If some other nation would partner with Gaza, they could provide the capital and expertise for the Gazans to exploit their own  offshore oil/NG reseources.  But as long as a corrupt kleptocracy like HAMAS is left in charge, the lives of the Gazan people will NOT be much better:  the bulk of all assets will be siphoned off as they've been in Egypt, in Libya, and in other oil-rich nations.  And the average person will see very little change.




 


>>>>>>>>> In reality Israel controls entries and exits of Gaza. Israel controls oil flow, flower, cooking oil to near 100% trades conducted in Gaza as well. Yes, there are no fanatic settlers in the middle of Gaza anymore. But Gaza is far from being "FREE".


Therefore, I feel as an occupier Israel has SOME responsibilities towards Gaza.


Lastly, I am not exactly your typical Fox network viewer. I watch other news outlets to get a complete picture of the "Holy land". So Gaza is very much in CONTROL of Israel. When it is not the case anymore, I'll be very happy for Israelies and Gazans.


In  fact, I am looking forward to the day when Israel lives in peace and Gaza can enjoy some basic freedom for a change.

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