Tuesday, November 05, 2013

Drilling for Oil in the West Bank

6 November update: On a related note, Israel is counting on a natural gas field to become "energy independent."

But as we've seen from Eike Batista, there might not be much in the ground anyway.

Even if there is, Israel will have to "navigate a geopolitical quagmire that risks angering enemies and enemies alike" according to an Associated Press article ("Israel Faces Geopolitical Tangle With Natural Gas" by Tia Goldenberg) published in the 30 March 2013 edition of the Honolulu Star-Advertiser. The article adds that Israel's discoveries of the Tamar and Leviathan gas fields represent "just a portion of the huge reserves in the Levant Basin, which the U.S. Geological Survey estimated in 2010 holds some 122 trillion cubic feet of recoverable natural gas."

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