Jackpot: Huge natural gas reserves found off Israeli coast
posted at 6:50 pm on December 30, 2010 by Allahpundit
Good news indeed, although I can’t shake the nagging feeling that tossing another huge energy find into the fray of Middle Eastern geopolitics might end up having unfortunate unintended consequences.
You know me. Always the pessimist!
On Wednesday, the frenzy got fresh fuel: Noble confirmed its earlier estimates that the field contains 16 trillion cubic feet of gas—making it the world’s biggest deepwater gas find in a decade, with enough reserves to supply Israel’s gas needs for 100 years.
It’s still early days, and getting all that gas out of the seabed may be more difficult than it seems today. But Noble and its partners think the field could hold enough gas to transform Israel, a country precariously dependent on others for energy, into a net-energy exporter.
Such a transformation could potentially alter the geopolitical balance of the Mideast, giving Israel a new economic advantage over its enemies…
Iran, Israel’s arch-nemesis and Hezbollah’s chief backer, has also weighed in. Tehran’s ambassador to Lebanon, Qazanfar Roknabadi, last month claimed that three-quarters of the Leviathan field actually belongs to Lebanon.
Mr. Landau, the Israeli infrastructure minister, denied the claim and warned Lebanon that Israel wouldn’t hesitate to use force to protect its mineral rights.
According to the U.S. Geological Survey, the entire zone may have reserves of 122 trillion cubic feet of gas, which is half the proven reserves of the entire United States. To entice you into reading the whole piece, there’s a fun subplot in there about Israel clamoring to retroactively raise its royalty rates on oil companies — which had traditionally been unusually low — in order to reap a windfall from the find, with the State Department (and Bill Clinton!) lobbying hard against it on behalf of the local American energy company. Believe it, my friends: Prominent Democrats, including the diplomatic arm of the Obama administration, coming out hard against … energy taxes.
Exit question: What will Israel get in return when it inevitably gives up its hugely lucrative claim to the gas field as part of some tenuous peace deal? A promise from Hezbollah not to kill every last Jew in the Holy Land?
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Sweet. How sweet it is.
Finally, Obama’s chikkinzzz are coming home to roost.
petefrt on May 19, 2013 at 8:22 PM
This.
When you have to plead incompetence to defend against charges of malfeasance, you know you might be in trouble.
petefrt on May 19, 2013 at 8:36 PM
ear relevant…
driguana on May 19, 2013 at 8:59 PM
Flush this lying tudd down the drain with the rest of the Obamacrap.
kemojr on May 19, 2013 at 9:34 PM
This was Dan Pfeiffer’s week in the barrel, like Susan Rice he was given the White House talking points and sent on a mission. He really needs to get copies of these tapes and watch them and see how foolish and unbelievable he looked and sounded. The White House is losing the little credibility it still had by sending these shills out every week trying to do damage control. Community organizers make poor leaders.
savage24 on May 19, 2013 at 9:42 PM
Pfeiffer’s statement that the law is irrelevant because the IRS conduct was “outrageous” and “inexcusable”, tells us all we need to know about this administration.
However, the follow-up should have been, “On what standard do you judge their conduct to be outrageous and inexcusable since the law is apparently not an appropriate standard?” (At least in Pfeiffer’s mind.)
What this comes down to is this: “if the Administrative deems something “outrageous” and “inexcusable,” then it is declared such. As we have seen in so many other areas, if the Administrative deems something to not be “outrageous” and “inexcusable,” then it is declared such.
In their mind, the law is – in fact – irrelevant. That’s what makes this situation so dangerous.
It’s not socialism. It’s worse.
EdmundBurke247 on May 19, 2013 at 10:36 PM
Irrelevant = “What Difference Does It Make?”
jaydee_007 on May 19, 2013 at 10:41 PM
A fitting capstone to Ed’s story about loss-prevention (aka employee theft) and management’s “permission structure” in this post.
(Not to mention the jaw-dropping statements of Eleanor Clift in this one.)
AesopFan on May 19, 2013 at 11:40 PM
I enjoy popcorn and hope it is a long week.
Drill and Fill on May 20, 2013 at 12:41 AM
Hey give Barky a break. He had to get his sorry ass out to Vegas.
tbear44 on May 20, 2013 at 4:49 AM
Of course they sent Pfeiffer out to do the Sunday shows. He was the most senior expendable staff member they had . . .
BigAlSouth on May 20, 2013 at 5:39 AM
Pfeiffer… The guy with the red shirt in the landing party…
Boudica on May 20, 2013 at 5:53 AM
Perfect!
lea on May 20, 2013 at 7:11 AM
Does anybody else remember the campaign in 2008 when Obama defended his lack of administrative experience by saying he was just so smart and tuned in that his instincts were better than experience. Someone needs to dredge up these sound bites and play then with the current line about the government being too large to control and that the White House only knows what it reads in the newspaper.
bartbeast on May 20, 2013 at 8:43 AM
If where the president was during the Benghazi crisis is “irrelevant”, then he wasn’t where one would expect the Commander-in-Chief to be. So, where was he? Was he watching a movie in the residence? Was he bowling? Or was he having a bi-curious outing with his good buddy Reggie Love? If Obama was AWOL, as I suspect he was, it is he who is irrelevant. This entire stinkin’ criminal Obama Regime must go and now!
SpiderMike on May 20, 2013 at 9:31 AM
If this continues all week, it will be ‘O’ himself doing the rounds on the Sunday talk shows – except for Fox, of course. (‘O’ can do everything better than everyone else as he has been known to say.)
He then gets the extra benefit that no one will challenge him like they have begun to do with his minions.
Carnac on May 20, 2013 at 11:00 AM
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