Friday, March 11, 2011

Oil and Gas Found in Israel
Nadene Goldfoot
After sitting for 63 years surrounded by countries with oil and not having any, scientists have actually discovered oil and gas in Israel.  Israel may have the 3rd largest deposit of oil shale in the world.  Gaddafi in Libya is selling oil for over $100 per barrel and the price may go easily to $5 per gallon or higher very soon. 

There are about a trillion barrels of oil in the world to be brought up to use.  800 billion of them are in the Middle East and North Africa.  Saudi Arabia, Iran and Iraq are rich with oil.  Oil has been found in the USA but naturalists have been keeping it from being used.

In 2004 natural gas was discovered in Israel.  Scientists figure that by 2013 more can be used.  There is a field that they figure can be used for export.  Most of the gas is in Israel's jurisdiction.  I guess Israel wasn't forgotten about after all. 

http://www.jpost.com/Features/FrontLines/Article.aspx?id=211676
http://www.oilinisrael.net/oil-in-israel-articles/haifa-gas-discovery-bumped-to-5-trillion-cubic-feet
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