Genie Energy, a company with headquarters in the United States, confirmed it made a major discovery of oil and natural gas in the Golan Heights.Fighting has been picking up in the Golan Heights and I thought it was simply a matter of geography.
The New Jersey-based company said data from exploratory wells drilling into the area confirm what it said were "significant" quantities of oil and natural gas.
"We remain optimistic given the results to date," Genie Chairman and Chief Executive Officer Howard Jonas said in a statement. "We are now working diligently to determine the production costs and total quantity of the resource."
The company's Israeli subsidiary, Afek Oil and Gas, drilled into a column of reserves about 1,150 feet thick, about 10 times larger than the global average.
I should have known better. ALWAYS FOLLOW THE MONEY!
I'm no greenie but dammit we really need to get off oil...even at the price of suffering higher oil prices to make it happen. The resource wars (which obviously have started) just aren't worth it.
Of course this leads to an uncomfortable but necessary question. Is the uptick in fighting in the region due to Israel protecting itself, protecting this oil find or both?