Israel as the next Saudia Arabia?
According to this article in the Wall Street Journal, Israel’s unusually large and high-quality shale oil reserves may yield as much oil as all of Saudi Arabia’s proven oil reserves.
These discoveries are in addition to of Israel’s recently diclosed gas reserves, also anticipated to be vaste.
There are few countries in the world as reality-based as Israel, because Israel has no other choice. It must be reality based in order to survive. This convinces me that Israel will waste no time in developing these deposits, not only for self-sufficiency but also to gain leverage with the international community. Imagine the political consequences,, if you would, if Europe no longer had to depend upon the Middle East for its oil.
Oh, I wish I could say the same about our own country, rich beyond imagination in oil, gas and coal reserves. In our own country, a far-too-comfortable bourgeoisie entertains unicorn visions of Shangri La-like utopias, unspoiled by any energy development other than windmills and solar panels manufactured in China. The price of these idle visions is steep, as measured by lost jobs, investment capital, trade balances and tax revenues, not to mention military missions to fund our energy needs and keep world energy supplies safe. The self-satisfied American bourgeois elites sleep well, oblivious to the environmental, economic and social disasters inflicted upon our own country and others to satisfy our presumptions of environmental virtue. Not even a record recession (depression?) and all its accompanying miseries is enough to shake our self-satisfied masses from their ut-opium dreams.
The bottom-line is that most of the bad international news that we read about today, from Iraq to Libya, Iran, North Africa, Sudan, Nigeria and world jihadism in general, has to do with the quest for affordable energy. Take away oil as an issue by crashing its price on world markets through oversupply, and most of these issues cited above simply fade away, along with the revenues transfered to countries that use them to fund activities inimical to our prosperity and civilization. Crash the price of fuel, jihadism dies. Crash the price of fuel, the world’s poor and unemployed benefit. Israel gets it, we don’t.
North America enjoys the world’s largest deposits of oil, gas and coal. Europe has recently discovered immense gas deposits that should more-than meet its internal needs. It’s time for our civilization to wake up: we should be developing our own energy resources as a crack pace, if for nothing else than to avoid a world disaster. War and poverty also have environmental consequences.