Israel: The Next Major Global Oil Exporter?

In light of the political upheavals around the Arab world in North Africa and the Middle East, the price of a barrel of oil has shot up to over $100 a barrel, consequently the price of gasoline in my state alone has risen to $3.39/gal, and in some areas even higher.

The world has become dependent upon MIddle Eastern oil (read: Arab controlled), which does not seem to bode well for Israel.  Except for this: it is now known that there were major discoveries of natural gas off the shore of the Mediterranean (about which I had written, complete with maps,  here - ) in areas mainly under Israel's jurisdiction. I have just read an article in the Jerusalem Post by Dore Gold which states that back in November, the World Energy Council based in Britain reported that Israel has oil shale reserves from which billions--yes, billions--of barrels of oil can be extracted.  Dr. Yuval Bartov, chief geologist for Israel Energy Initiatives presented, at a Colorado School of Mines symposium, data showing that the Israeli oil shale reserves are the equivalent of 250 billion barrels of oil, almost equaling the reserves held by Saudi Arabia, at 260 billion barrels.

This is great news--can you imagine Israel being the major oil exporter in the Middle East? It is now a distinct possibility.  As if this good news isn't enough, it turns out that the modern method for extracting oil from shale is one that does not have the negative ecological effects of the earlier method, and also produces water, rather than consumes it!  These clean, water-saving methods for extraction are being currently developed for Israeli oil shale, and when perfected, may have global significance:
For if Israel develops a unique method for separating oil from shale deep underground, that has none of the negative ecological side-effects of earlier oil shale efforts, that technology can be made available to the whole world, changing the entire global oil market. The effect of the spread of this technology would be to shift the center of gravity of world oil away from Iran, Saudi Arabia and the Persian Gulf to more stable states that have no history of backing terrorism or radical Islamic causes.
 Israel's economy is already weathering the global economic downturn fairly well, and the shekel is as strong now as it's ever been, if not the strongest. Wouldn't it be miraculous--prophetic, actually--if the world begins to look upon Israel as a serious world economic contender, and gives it the respect it deserves.  Israel could use the wealth it would gain from being a global oil producer towards eradicating poverty among its citizens, including increasing governmental child allowances and completely paid-for health care per family.  And, as The Muqata puts it, more American Jews (present company excepted--it's already our future plan) might be willing to give up their luxuries to make Aliyah, to. . .more luxuries!

                                                                              oil shake rock burning independently after being ignited

*Copyright alert: No infringement of any text or graphic copyright is ever intended on this blog. If you own the copyright to any original image or document used for the creation of the graphics or information on this site, please contact the blog administrator with all pertinent info so that proper credit can be given. If you wish to have it removed from the site, just say the word; it shall be, ASAP.


Popular posts from this blog

A Beautiful Name for a Beautiful Soul

The Great Debate: Is it Itsy Bitsy, or Inky Dinky, of Spider Fame?

The End. Is there a Beginning...?