Israel as a major oil exporter?

Posted by: Phineas on June 15, 2011 at 2:01 pm

**Posted by Phineas

This could be a potential game-changer both in the Mideast and globally:

Look Out, Saudis? Israel Is Sitting On Huge Oil Shale Deposits

The World Energy Council has determined that about 30 miles southwest of Jerusalem, in the Shfela Basin, there are oil shale deposits with the potential to yield 250 billion barrels of oil. This represents the world’s third-largest quantity of oil shale behind the US and China. Oilprice.com notes that both those countries would consume almost all their own production, so Israel could conceivably become the world’s largest exporter of shale oil.

(…)

Saudi Arabia’s proven oil reserves are 260 billion barrels, so we would appear to be in the running as an energy giant — particularly in view of the enormous natural gas finds at the Tamar and Leviathan fields. But there’s quite a distance yet to travel. For one thing, extracting oil from shale isn’t the same as drilling it out of the ground. It’s more difficult and more expensive.

This comes on the heels of major natural gas finds off Israel’s northern coast.

It’s hard to overemphasize the importance of these two finds for Israel, which could easily meet its own energy needs, and for the America and the West, which would love to have a major friendly supplier of oil and gas that’s both outside of OPEC (1) and not Russia. Granted, development is years off and shale oil is more expensive to extract than drilled oil, but author Judith Levy points out that an Israeli start-up company has developed a way to extract the oil for only $35-$40 per barrel, an eminently economical cost.

(In fact, it would be really keen if we could share in that technology, given the huge shale-oil reserves we possess. Good thing we have an administration that’s worked day and night to stay friends with Israel. )

Levy provides a map that also shows major shale oil deposits under Jordan, whose generally pro-Western government has been dependent on aid from both America and Saudi Arabia. This would be a potential boon for them, too, giving them their own source of revenue and jobs, and making them less dependent on Saudi Arabian money and gas from an Egypt that’s trending toward Islamism.

Like the massive finds of shale oil in the US, these discoveries carry the possibility of a major realignment of economic power in the world. But, unlike the US until at least 2013, we can be sure the Israelis will exploit them.

via Baseball Crank

Footnotes:

(1) Come on. Does anyone really think the Arab-dominated OPEC will let al Yahud join? Or that Israel would want to?

(Crossposted at Public Secrets)

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10 Responses to “Israel as a major oil exporter?”

Comments

  1. Carlos says:

    “Good thing we have an administration that’s worked day and night to stay friends with Israel.”

    Kinda says it all about Obhammud’s foreign policies, right?

    Oh, and you could just as easily have used “England”, too.

  2. Tex says:

    If true it would certainly be great news. Here in Texas the fairly recently discovered (2008) Eagle Ford Shale formation is already considered the largest discovery of oil in the U.S. in the past 40 years. It is much more easily extractable than many of the other oil shale formations. Geologists are continuing to trace it with most of the known reserves being located in the southern tip of Texas but are starting to believe it may in fact extend from the southern tip of Texas across central Texas up to near Dallas (50 miles wide by 400 miles long), which may make it one of the biggest oil finds in the U.S. far beyond the past 40 years. They are estimating that there is more oil in this Texas formation than there is in the entire state of Alaska. Because it is new and still not completely quantified, some oilmen here think it may end up being the largest discovery of oil ever in the U.S. And the gas reserves discovered along with this oil are mind boggling with estimates of up to several hundred years worth of gas reserves.

    This is but one shale formation. There other smaller ones in the U.S. with possibly many more undiscovered shale formations in the U.S. With a little smarts, the U.S. should be able to get nearly all of its oil supply from within or from countries like Canada and soon Israel and Brazil. There should be no need to transfer trillions of hard earned American dollars into the pockets of nations in the Middle East who hate us and who work for our destruction.

  3. RM says:

    Reminds me of the old joke from Golda Meir who said Moses led the Jews for “…40 years through the desert in order to bring us to the one spot in the Middle East that has no oil”.
    Oil is only gravy for Israel that survived and thrived for decades without it. Now only if we in the USA can drill in our own territory.

  4. Carlos says:

    Ah, they’ll never let anyone seriously try to get oil out of the shale here in the states. Someone will find a threatened species, like a “shale-drilling slug,” and the one-world-government envirowhackos will have every square inch of the United States tied up forever.

    One thing’s for sure: whatever species it is will have an exotic name no one ever heard of before, but it will sure look an awful lot like something that people have been fighting to get rid of since the dawn of time.

  5. Lorica says:

    Well I guess the Arabs have there reason to ramp up production now. – Lorica

  6. Tango says:

    …@Lorica – it will be interesting to see; you may be proven right. The Saudis have recently announced they will ramp up their own production (in excess of OPEC quotas) with most of that add’l oil being sent to China.

    Those of us who’ve been around long enough recall the oil exporters (including OPEC) selling every barrel they could when it became clear the US was making the trans-Alaska pipeline production a reality.

    Even so, I expect the BarryO regime to put as many stumbling blocks as it can in front of any new US domestic production. It’s who they ARE!

  7. captaingrumpy says:

    I would really get a kick out of the report of major oil find in Israel hitting the desk in the oval orifice.I can see the Dem senate changing their minds and backing Israel for once.Barry would burst,BUT,he will have to get the Arabs into Israel first so they can have the oil.Not the 1967 borders,barry will make the borders on the oil find.

  8. Carlos says:

    And I’m just real sure that Duh-1 will appoint Mitt as the Overseer of Confounding Progress On Oil Production (O-C-POOP for short) because of his impeccable credentials as a global warmest, especially since he’s already got such a warm endorsement from Algore.

    As long as we have a marxist in the White House, there’s no way our country will ramp up our production of oil.

  9. Paul says:

    Good news for Israel…:d

  10. patricia jones says:

    \:d/ THIS NEWS IS A BLESSING – NOW ISRAEL CAN TELL THE SAUDIS AND THE REST OF THE ARAB NATIONS WHAT TO DO WITH THEIR BLACK GOLD.