Rupert Branching Out Into Oil Drilling?

[Hypognosis]

Well, well, well.


Dick Cheney, with the stash of cash he got from making weapons for the US to fight in Kuwait/Iraq/Afghanistan plans to drill... the Golan Heights???

J Rothschild and Rupert Murdoch only in it for the shares?

Or is this business diversification?

http://www.businessinsider.com/israel-grants-golan-heights-oil-license-2013-2?IR=T

[Hypognosis]

At last! I get a whole thread to myself.

--------------from the link in the OP -----------
"That geographic location will likely prove controversial. Israel seized the Golan Heights in the Six-Day War in 1967 and annexed the territory in 1981. Its administration of the area — which is not recognized by international law — has been mostly peaceful until the Syrian civil war broke out 23 months ago.

"This action is mostly political – it’s an attempt to deepen Israeli commitment to the occupied Golan Heights," Israeli political analyst Yaron Ezrahi told FT. "The timing is directly related to the fact that the Syrian government is dealing with violence and chaos and is not free to deal with this problem.”
-----------------

[Hypognosis]

Adam Curtis is at it again...

http://www.bbc.co.uk/blogs/adamcurtis/entries/d3921cac-2144-306a-9f6e-712c0c685010


...except that one was from 2011.

[sandyRoe]

I thought the Golan Heights were occupied Syrian territory. Though that wouldn't stop the Israelis. If they stole the land they're on they'd have no qualms about stealing any mineral resources under it.

[Hypognosis]

@SandyRoe

That's what the article is saying, basically. The heights were captured in the 1967 war and Syria's armed forces are currently... rather busy.


I also think Israel gets the same top-of-the-range tanks that the Americans use (or they build their own??) while the neighbouring nations were sold weapons which were good enough to maintain a stand-off with local rivals, yet somewhat porous to western nations' depleted Uranium shells.

[DTCwordfan]

Does that mean I am branching out into Alternative Energy as I own Shell and BP shares?

So what, the more significant story is that someone is prepared to bet on Israeli oil as they have been pretty well devoid of it so far.

[Hypognosis]

@DTCwordfan

//Does that mean I am branching out into Alternative Energy as I own Shell and BP shares?//

Oh, well played.

Actually, I think I'm musunderstanding your meaning there on at least three levels. I get the bit about share ownership =/= corporate involvement but we don't know the magnitude of RM's investment yet. I know nothing of Shell/BP's level of involvement in alternative energy, only that, if they have oodles of cash, they need to get into that sector before any other players do. More still, before governments take decarbonisation of the economy to the next level. (That's a whole other thread).


//So what, the more significant story is that someone is prepared to bet on Israeli oil as they have been pretty well devoid of it so far.//

I hadn't even asked myself the question of where Israel was getting its oil and gas from. Surely not all the way from the USA?

It can't be coming from Arab countries - they would have turned off the taps years ago (unless they *really, really* needed the money).

[DTCwordfan]

Israeli oil supply....that's an easy one, some trading in the Eastern Med and over the past 25 years, significant fuel imports have come from Angola, Colombia, Mexico, Egypt, and Norway. In more recent times, the Israelis have turned to Russia, Kazakhstan, and some of the other -stans for the bulk of their oil.

[DTCwordfan]

they only produce 5-6 thou barrels a day and they need c. 240 thou barrels a day, never mind quality of crude when it comes to meeting their product balance needs.

[DTCwordfan]

Oh, and Shell is well into it as to alternatives, when it comes to the Majors....

[Hypognosis]

@DTCwordfan

Thanks for putting me in the picture.

Knowing what we know about WWII North Africa campaign and its dependence on fuel management, I am starting to understand why Israel hasn't embarked upon much expeditionary activity, in recent decades. If their domestic consumption is straining their supply arrangements then we know their strategy is to wait for others to come to them. The diaspora is immigrating from all parts of the world into the homeland and escalating consumption of everything.