Did you know that Israel appears poised to become a massive exporter of natural gas and oil? Seems that way:
Israel became energy independent on March 30, when the Tamar offshore gas field began pumping natural gas to Israel. In two to three years, when the Leviathan gas field comes online, Israel will become one of the most important producers of natural gas in the world. Moreover, in 2017, Israel will likely begin extracting commercial quantities of oil from its massive oil shale deposits in the Shfela Basin near Beit Shemesh.
Geologists assess that the field alone contains some 250 billion barrels of oil, giving Israel oil parity with Saudi Arabia. Chinese, Russian and Australian firms are lining up to sign contracts with Israeli energy companies. International analysts assess that Israel’s emergence as an energy power will have a stabilizing impact on the global economy and international security. Israel can end Asia’s oil and gas hunger. It can reduce European dependence on Russia. It will remove OPEC’s ability to dictate world oil prices through supply manipulation.