by: the Common Constitutionalist
It’s been reported recently that Israel has made the discovery of a lifetime. They’ve discovered a massive oil field in their Golan Heights territory.
Israel reportedly consumes about 270,000 barrels of oil per day, although other estimates put consumption far lower at around 190,000 barrels. That’s somewhere between 70 and 100 million per year. The Golan discovery is said to possibly be in the billions of barrels. This find alone could make Israel energy independent for decades.
This is the first potentially commercially viable oil source it’s ever had since its founding. Until this discovery, Israeli companies have drilled some 350 exploratory wells – not one has been viable.
To demonstrate just how significant this find may be – the average depth or thickness of layers of underground oil deposits is around 30-35 meters. This find is estimated to be 350 meters thick – 10 times the norm.
What is yet to be determined is whether the oil can be extracted at a reasonable enough price to be viable. And that’s a big if, considering how the price of oil worldwide has cratered in the past several months.
Naturally, as in America and the rest of the West, environmentalist wackos have involved themselves; doing everything they can to halt the progress of discovery.
We here in the States know all too well how the powerful environmental lobby can muck things up for the energy sector, but we have it relatively easy compared to Israel. We don’t have hostile nations on our border to content with – only our own hostile government.