Does Israel Have Oil ?
Posted by Big Gav
The Economist has a brief report looking at the prospect of oil being found in Israel. The land of milk, honey and light, sweet crude ?
Judging by the map someone could no doubt come up with a good conspiracy theory about the reason behind the siting of the wall...
Moses dragged us for 40 years through the desert to bring us to the one place in the Middle East where there was no oil”, quipped Golda Meir, one of Israel's prime ministers. Now two men hope to prove that not only is there oil, but that Moses pointed to it.
Israel has oil and gas wells, but very few; oil majors with big investments in Arab countries have found it prudent to stay clear. Both companies reckon that if their calculations turn out to be accurate, their oilfields could yield tens or hundreds of millions of barrels, enough to make Israel (which consumes some 100m barrels per year) partly self-reliant. In the next few weeks, both should learn whether Moses's blessing is theirs to take.
Technorati tags: peak oil
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