Monday, October 19, 2015

This Changes Things

The Times of Israel reports that significant amounts of oil have been discovered in the tiny country, specifically in the Golan Heights region in the north of the country, bordering Syria.
The layer is ten times larger than the average oil find worldwide, Bartov said, “and that’s why we’re talking about significant amounts. What’s important is to know that there’s oil in the rock, and this we know.”
They note:
Three drilling sites on the Golan have uncovered what is potentially billions of barrels of oil, enough to fulfill the Israeli market’s 270,000-barrel-per-day consumption for a very long time, the report claimed.
You might recall that a couple of years ago, Israel announced they had discovered a deep offshore oil and gas deposit offshore from the city of Haifa, named the Tamar and Leviathan fields.  At that time, the press were saying:
“The quantity of gas discovered in the licenses, and the high probabilities, make it the third largest offshore discovery to date,” according to Israel Opportunity chairman Ronny Halman, quoted by Globes.

He added, ”This quantity guarantees Israel's energy future for decades, and makes it possible to export Israeli gas, and boost the state's revenues without worrying about gas reserves for domestic consumption."
Sounds like Israel is poised to move from net energy importer to net exporter. Which has to have an effect on global geo- and petropolitics.
Drilling test holes on the Golan Heights


  1. If chairman Mao Bama hadn't shafted them, they probably would have given us a good price on the oil!

  2. They may have some difficulties actually developing those finds, since they will be relatively easy for the muslims to sabotage them, with rocket attacks or mortars. Yes, Israel can blow the hell out of any area that launches either, but when the rigs and equipment lie there burning, it will take time and lots more money to rebuild. After the fires are put out.

    1. But if they can export to Europe then that loosens russia's strangle hold.

  3. I'm a simple man so I'm confused as to why in the world Israel would export oil. It is the lifeblood of any economy and a assured supply of oil for the next century will help Israel economically and militarily in ways that being dependent on other countries cannot. So how in any sane world does it make sense to export the one thing that makes you stronger? The choice seems to be use the oil to grow stronger and imprcve life for all the citizens for 100 year or export it as fast as you can and make a handful of people fabulously rich and leave Israel again dependent on the good will of other countries for the very lifeblood of modern civilization. Gee! That's a tough choice. But wait! The ONLY reason this is even a possible choice is because money buys politicians. No Israeli politician in their right mind would vote to export the oil BUT if you give them a couple million sheckles under the table they will vote to allow it. But WHY should they???

  4. Anon@11:11,

    I'm guessing, but I imagine the Israelis are smart enough to only export that which isn't needed for their own use _PLUS_ strategic reserves to provide for their future needs. It sounds like the volume of oil should exceed their own needs by quite a significant amount.

    There are things they require in the short term that could be purchased, or developed - like their own munitions, new aircraft, and other military hardware, especially now that Obama is refusing to sell them items that all the other Presidents except for him - and maybe Carter, an earlier anti-Semite President - had made available for purchase.

    Any oil excess to their own needs (including reserves) would be wealth that could fund their own development and production of most of the items an anti-Semite Europe and (now) anti-Semite American government refuse to sell.

  5. I disagree for these reasons. Whatever oil they have will not provide them with oil forever. Sooner or later it runs out. Once it is gone they are like any nation with no oil, i.e. at the mercy of the market and other nations. This oil could last a small nation like Israel for a century OR it could be sold off for a huge profit so a few billionaires could have 200" yachts to cruise around in. Oil is the lifeblood of modern economic society and to sell it off so a few can profit is a huge mistake. Israel and any intelligent society/country should sell products that have provided jobs to their citizens and not raw materials.