Israeli oil shale discovery could rival Saudi Arabia oil reserves


Thursday, January 5th, 2012
News

 

The middle east has typically dominated oil productions with countries like Saudi Arabia, Iran, Iraq, Kuwait and Bahrain. A country like Israel is typically at the mercy of market prices as well as local political tensions in regards to its energy security.  Israel is a net importer of oil with most of its fuel imported from foreign sources with most Israeli news indicating a shifting focus of alternative energy technologies.

CBN has reported from BEIT SHEMESH in Israel that potentially large deposits of shale oil have been discovered. While they are not first country to have large shale oil deposits such as the United States, for its own energy security it could be a boon.

Although environmental tests and methods need to be evalauted to safely extract the oil, it is estimated that at one location there is approximately 40 billion barrels worth, with a potential of 250 billion barrels in Israel. 

 

 



Article by James Jones

The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com



Follow financeadvisory on Twitter

SHARE THIS ARTICLE :

Tags: israel discovery, israel oil, oil discovery,

Comments:

linzhipeng (June 1, 2012 6:08 PM)
An Israeli Local (January 5, 2012 11:40 PM) Israelis are terrified about the effects of this oil shale extraction. Oil inevitably corrupt the countries where it is extracted (The "Resource Curse"). The US-owned company is testing a new technique, never before used commercially, after running into trouble with environmental agencies in the US. The technique involves heating up square kilometers of undersoil to 630 F for up to 3 years until kerogen (an oil component) and methane leak out. The proposed site is in parkland right in the Judean foothills right in the heart of Israel.
Joe (January 23, 2012 12:41 PM)
"Israelis are terrified about the effects"? Really? You speak for all "Israelis"? I would think Israelis (myself included) would not be terrified of sucess... of all of our health, education and social-wellfare needs provided for. Of creating enough wealth to pay for our security needs and to eliminate foreign dependency on energy. Of course enviromental concerns need to be taken into consideration, and any risks should be reduced as much as possible. But this whacky enviromental utoipa that some people fantisize about and even pray to as some kind of religion, is not going to secure our future. Let the grown-ups work, and you guys keep yacking. The rest of us will even allow you to enjoy the benifits.
A Sane Israely Local (January 7, 2012 6:58 AM)
"Israelis are terrified about the effects of this oil shale extraction" Not true should say "a very small and vocal minority is terrified about the effects of this oil shale extraction" The Norwegian model in which a heavily regulated national fund is created from oil proceeds works pretty well for Norway, Israel can do the same and avoid the so called "Resource Curse" For Israel NOT to exploit the vast shale deposits that were discovered and secure its future financially (ALL social programs will at last be affordable!!), and strategically (energy independence, maintaining a robust and powerful army to deter Israel's enemies in the hostile region and investing ever more R&D capital) is down right stupid if most of the environmental concerns can be solved. The hysterical, tree hugging environmentalists are nothing more then saboteurs, playing to the hands of Israel's staunch enemies.
An Israeli Local (January 5, 2012 11:40 PM)
Israelis are terrified about the effects of this oil shale extraction. Oil inevitably corrupt the countries where it is extracted (The "Resource Curse"). The US-owned company is testing a new technique, never before used commercially, after running into trouble with environmental agencies in the US. The technique involves heating up square kilometers of undersoil to 630 F for up to 3 years until kerogen (an oil component) and methane leak out. The proposed site is in parkland right in the Judean foothills right in the heart of Israel.
Post a Comment

Comments:*


Name:*


Enter Verification Number:*