Tuesday, October 20, 2009
Sunday, August 02, 2009
Thursday, July 16, 2009
Tuesday, July 07, 2009
Monday, June 15, 2009
Friday, June 12, 2009
Thursday, June 11, 2009
Israel Discovers Huge Gas Field
A huge natural gas discovery 50 miles off the Israeli coast at Haifa could potentially meet Israel's energy needs for 20 years once it eventually comes online. In January 2009, a consortium led by U.S. energy exploration company Noble Energy announced the discovery of three massive gas fields, with one of the group's partners calling the find "one of the biggest in the world" that represented a "historic landmark in the economic dependence of Israel."
Israel had been facing a serious energy crunch. The global oil market has become increasingly competitive, and most of the major producers number among Israel's political opponents. Moreover, Israel's Mari-B gas field is due to run dry within roughly five years. But with the Tamar find -- more than four times larger than the Gaza supply -- a once-bleak energy picture suddenly looks vastly different. An ecstatic Binyamin Ben-Eliezer, Israel's infrastructures minister, has described the recent discovery as one of "historic proportions" that could change the face of Israel's economy. What excellent news.
Subscribe to:
Posts (Atom)
