IMAGINE IF THE WHOLE WORLD GOT FREE OF ITS "ADDICTION" TO MIDDLE EAST OIL?... with the recent findings of the Tamar and Leviathan natural gas reserves off its waters, Israel has a future as an energy independent country. By why stop there? Some believe that Israel could become one of the world’s leading oil producers.
Such is the plan of Harold Vinegar and his colleagues. Dr. Vinegar, the former chief scientist of Royal Dutch Shell, and current chief scientist at Israel Energy Initiatives (IEI), believes that with Israel’s oil shale deposits, this could be reality.
IEI is working on an ambitious project to extract oil and natural gas from oil shale from a 238 sq km area off the Shfela Basin, southwest of Jerusalem.
... According to Dr. Vinegar, Israel has the second-biggest oil shale deposits in the world, outside the United States. “We estimate that there are the equivalent of 250 billion barrels of oil there. To put that in context, there are proven reserves of 260 billion barrels of oil in Saudi Arabia.” he told The Times.
Once operational, IEI estimates that the cost of production of shale oil would be between $34-40 per barrel. This would make it comparable to the current price of $30-40 per barrel for deepwater oilfield and cheaper than Canadian sand oil and crude oil extracted from the Arctic.
WE COULD TELL THE ARABS TO GO EFF THEMSELVES IF:
- WE FULLY EXPLOITED BRAZIL'S DEEP-WATER FINDS...
- AND CANADA'S OIL SANDS...
- AND ALASKA'S ANWR OIL...
- AND NORWAY'N BRITAIN'S NORTH SEA OIL...
- AND NOW ISRAEL'S GAS AND OIL -
- AND IF WE ALSO PRODUCED MORE COAL ENERGY.
“For behold, in those days and at that time, when I restore the fortunes of Judah and Jerusalem, I will gather all the nations and bring them to the Valley of Jehoshaphat ["the Lord judges"]. Then I will enter into judgment with them there on behalf of My people and My inheritance, Israel, whom they have scattered among the nations; and they have divided up My land.” (Joel 3:1-2).
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