Will The Discovery Of Huge Amounts Of Oil In Israel Lead To War In The Middle East?
By Michael Snyder
EndOfTheAmericanDream.com
October 7th, 2015
Billions of barrels of oil have been discovered in Israel, and this discovery could essentially make Israel energy independent for many decades to come. But there is just one problem. This discovery was made in the Golan Heights. If you are not familiar with the Golan Heights, it is an area that Israel took from Syria during the Six-Day War of 1967. The government of Israel considers the Golan Heights to now be part of Israeli territory, but the United Nations does not recognize Israel’s claim. Instead, the UN still recognizes Syrian sovereignty over that area. So now that massive amounts of oil have been discovered there, what will this do to tensions in the region? Could this discovery of oil help set the stage for World War III?
When I first read about the discovery of all this oil, I was quite stunned. Ever since 1948, Israel has had to import virtually all of the oil that it uses, and so this oil in the Golan Heights could be a huge game changer. The following is an excerpt from an article in an Israeli news source about this discovery…
Three drillings have so far taken place in the southern Golan Heights which have found large reserves of oil. Potential production is dramatic – billions of barrels, which will easily provide all Israel’s oil needs. Israel consumes 270,000 barrels of oil per day.
Although the existence of the oil in the ground is a fact, the critical phase now is to check how easily it can be extracted and whether it involves high production costs. In a period of very low oil prices, extraction will have to be relatively cheap to make exploitation of the field profitable.
Just as Israel’s offshore Mediterranean gas discoveries have created an entire energy industry, so the Golan oil find could also generate a new industry around it.
The Rest…HERE
