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Israel as a Fossil Fuel Powerhouse

(Pacific Standard) Vince Beiser - Uzi Landau, the minister in charge of Israel's infrastructure, has come to Houston to invite the world's energy corporations to help Israel become a fossil fuel powerhouse. "We're an open economy, with an independent legal system," Landau pitches the crowd. "We approach women with respect. We don't hang homosexuals. We run things as you run them here in Houston." Since 2009, two colossal natural gas fields have been discovered under Israeli waters. Combined, they hold trillions of cubic feet of gas worth hundreds of billions of dollars. Production is slated to begin this year. And there is certainly more down there, perhaps much more. "Ladies, gentlemen, this is a revolution as far as Israel is concerned," Landau says. Israel's natural gas bounty means the country will not only get richer but also will likely become largely energy independent. Israel's gas is already winning the country new friends elsewhere: Russia has signed agreements to get in on Israel's offshore finds. Landau is selling the best-case scenario, in which Israeli gas promotes peace. Israel could export gas to the Palestinian territories and to Jordan and other nearby countries. That could boost regional cooperation and acceptance of Israel.
2013-03-08 00:00:00
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