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Levant Basin Province Has Gas

According to the humble estimate of a US energy industry expert, international companies might soon join exploration efforts for oil and gas in the Holy Land.
Fred Zeidman told Globes website:

“It is quite likely that international firms will join the exploration efforts on Israeli territory; this comes one year after the ‘Tamar’ and ‘Dalit’ discoveries in the Mediterranean Sea. One international firm has already embarked on the could-be gold rush: Noble Energy, which was the partner of Delek and Isramco in their respective discoveries”.

Two of Israel’s largest financial groups: Nochi Dankner‘s IDB group and Ofer Nimrodi’s Israel Land Development too have entered the sector already.

Zeidman said:

“It happens all the time…We see in the US that the moment a company discovers oil or gas that can be transported, there’s a crazy rush to the region by other companies, and that’s a function of the size of the reserves found. Around the world, as soon as Noble goes to a place, many other companies follow in its wake. The prospects here are amazing, and I have no doubt that we’ll see an economic boom, and a rush of more companies to Israel from overseas following Noble.”

Levant Basin Province

A report done by the U.S. Geological Survey estimates that 122 trillion cubic feet of recoverable natural gas are in the Levant Basin Province in the eastern region of the Mediterranean.

This area includes the coastal areas near Israel, Lebanon and Syria.

Brenda Pierce, a USGS Energy Resources Program Coordinator said:

“The Levant Basin Province is comparable to some of the other large provinces around the world…Its gas resources are bigger than anything we have assessed in the United States.”

The Levant Basin Province holds an estimated 1.7 billion barrels of undiscovered oil, which can be easily recovered with existing technology. This marks the first time the USGS has assessed the Levant Basin area for extractable resources.

Three Years Later – Dan Haloutz and Lebanon II

Sunday July 12, marked the third anniversary of the beginning of the 2006 war between Israel and Hezbollah in Lebanon. For a lot of people, especially those who lost loved ones in the 34 day conflict in which 121 Israeli soldiers and 44 civilians lost their lives, the day was marked by reflections and sad recollections of the event, which had begun following the Hezbollah led attack on an Israeli army patrol along Israel’s northern border in which several soldiers were killed and two were taken captive. The remains of the two taken captive, Eldad Regev and Udi Goldwasser were later returned in two black coffins, more than two years later.

Dan HaloutzOn this day, one particular individual, former IDF Chief of Staff Dan Halutz, still appears to stand by the decisions he made during the war, and does not regret his actions during the conflict – actions that have been criticized by many since then.

“The government’s decision to take action (against the Hezbollah) was correct and justified” Halutz said, when interviewed by media reporters. “Sometimes these decisions must be made, even if they are not popular”, he continued. He did finish the interview by saying that the decisions were made by “a leader who was willing to accept responsibility for the outcome of those decisions – that is what leadership is all about”.

Since then, Halutz has left active duty and entered private life as a salesman of high line BMW automobiles for Kamor Motors, Israel’s main importer of the German higher priced auto line. In fact, Halutz appears to have done so well in his new profession that he was recently appointed CEO of Kamor Motors, and is reported to have received around 5% of the company’s stock, worth an estimated $1.99 million. Not bad for only being about two and a half years in the car business. And it doesn’t stop there, as he was also appointed as Chairman of the Board of Starling Advanced Communications; a start-up company jointly owned by Raphael, Elbit and Nochi Dankner’s IDB group, where he earns an estimated $7,500 a month.

Halutz even went so far as to say that if he were in the same position as he was in on July 12, 2006, he would make the same recommendations as he did then to the Defense Minister (you know who he was – that guy who was photographed trying to look through a pair of binoculars on which the lens caps were still on).

On top of all this, let’s not forget Halutz’s military pension, which considering his rank and length of military service must be an amount that a lot of corporate executives would like to be living on.

The war not only caused a considerable amount of damage in Israel, as well as incapacitating and uprooting at least a million Israelis. It also did considerable damage to Lebanon’s infrastructure as well as killing more than 1,000 civilians.

A number of Israeli officers who served under Halutz were not so upbeat in their opinions concerning the conflict, including outgoing Deputy Chief of Staff Major General Moshe Kaplansky; who noted a number of failures related to the war, particularly the decision to call up the reserves only in the last days of the conflict. He also said that IDF budget cuts and concentrating against fighting terrorism led to a state of being unprepared when the war broke out.

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