Advertisements

Israel Approves Oil Drilling In Syria To Company Part Owned By Rothschild & Murdoch

Comments Off on Israel Approves Oil Drilling In Syria To Company Part Owned By Rothschild & Murdoch

Israel ups the pressure on Syria whose oil and gas in the Levant Basin and Golan Heights are coveted by many companies. According to a U.S. Geological Survey, the Levant Basin contains and estimated 1.7 billion barrels of recoverable oil and 122 trillion cubic feet of gas. Israel has issued Genie Energy a permit to drill for oil within the Golan Heights.

Genie Energy had been issued an exclusive permit on Wednesday by Israel’s Energy and Water Resources Ministry to drill for oil.

This allows for oil exploration in a 153 square mile in the south of Golan Heights.

“Based on its preliminary analysis and interpretation of existing geological data, that the newly issued license area may contain significant quantities of conventional oil and gas in relatively tight formations, the development of which would entail significantly different technical approaches and project timelines than the other projects,” Genie Energy said in a statement.

Israel annexed Golan from Syria in June 1967 after a six-day war, with an estimated 2,500 Syrian fatalities and 591 taken prisoner. Despite being annexed in 1981, this move is not internationally recognised.

Israel-Syria peace talks halted oil permits for the area 20 years ago, with the relinquishment of Golan being one of the key facets. The talks however were never resolved.

But the plot thickens. According to IDT (parent of Genie Energy), both Lord (Jacob) Rothschild and Rupert Murdoch have a stake in the energy company. Interesting how it all plays out.

Genie Energy Corporation (Genie Energy), a division of IDT Corporation (NYSE: IDT, IDT.C), today announced that Lord (Jacob) Rothschild and Rupert Murdoch have each purchased equity stakes in Genie Oil and Gas Inc. Jacob Rothschild will join Rupert Murdoch on Genie Energy’s Strategic Advisory Board and Jacob Rothschild’s interests will partner with Genie Energy to raise capital for the eventual commercialization of its oil shale projects.

Jacob Rothschild and Mr. Murdoch separately purchased equity positions equivalent to a cumulative 5.5% stake in Genie Oil and Gas Inc., which consists of IDT’s interests in American Shale Oil, LLC (AMSO), and Israel Energy Initiatives, Ltd., (IEI), for a total of $11.0 million dollars.

Source: The Telegraph, IDT

Advertisements

Iran: Naval Power Amassing In Persian Gulf For Iran Attack

Comments Off on Iran: Naval Power Amassing In Persian Gulf For Iran Attack

In support of Israel’s preemptive strike on Iran, the US and UK have amassed an armada of naval vessels. Many reports have come out that Iran will attempt to close the Straits when attacked. The battle to keep the Straits open will be of major economic importance to the West.

An armada of US and British naval power is massing in the Persian Gulf in the belief that Israel is considering a pre-emptive strike against Iran’s suspected nuclear weapons programme.

Cruisers, aircraft carriers and minesweepers from 25 nations are converging on the strategically important Strait of Hormuz in an unprecedented show of force as Israel and Iran move towards the brink of war.

Western leaders are convinced that Iran will retaliate to any attack by attempting to mine or blockade the shipping lane through which passes around 18 million barrels of oil every day, approximately 35 per cent of the world’s oil traded by sea.

A blockade would have a catastrophic effect on the fragile economies of Britain, Europe the United States and Japan, all of which rely heavily on oil and gas supplies from the Gulf.

The Strait of Hormuz is one of the world’s most congested international waterways. It is only 21 miles wide at its narrowest point and is bordered by the Iranian coast to the north and the Oman to the south.

In preparation for any pre-emptive or retaliatory action by Iran, warships from more than 25 countries, including the United States, Britain, France, Saudi Arabia and the UAE, will today begin an annual 12-day exercise.

The big war games excercise will be followed by Iran testing out its own capabilities.

In addition, commanders will also simulate destroying Iranian combat jets, ships and coastal missile batteries.

In the event of war, the main threat to the multi-national force will come from the Islamic Revolutionary Guards Corps navy, which is expected to adopt an “access-denial” strategy in the wake of an attack, by directly targeting US warships, attacking merchant shipping and mining vital maritime chokepoints in the Persian Gulf.

Defence sources say that although Iran’s capability may not be technologically sophisticated, it could deliver a series of lethal blows against British and US ships using mini-subs, fast attack boats, mines and shore-based anti-ship missile batteries.

Next month, Iran will stage massive military manoeuvres of its own, to show that it is prepared to defend its nuclear installations against the threat of aerial bombardment

Obama is meeting Netanyahu to discuss Iran but Netanyahu is itching to go ahead.

The main naval exercise comes as President Barack Obama is scheduled to meet Benjamin Netanyahu, the Israeli prime minister, today to discuss the Iranian crisis.

Many within the Obama administration believe that Israel will launch a pre-emptive strike against Iran’s nuclear facilities before the US presidential elections, an act which would signal the failure of one of Washington’s key foreign policy objectives.

…..

But just last week Mr Netanyahu signalled that time for a negotiated settlement was running out when he said: “The world tells Israel ‘Wait, there’s still time.’ And I say, ‘Wait for what? Wait until when?’

“Those in the international community who refuse to put red lines before Iran don’t have a moral right to place a red light before Israel.”

Source: Telegraph

Opps, Egypt Cuts Israel Off from 40% Of Its Natural Gas Supply

1 Comment

Its all kicking off now. Egypt out of the blue has just cut Israel off from the natural gas supply. Currently 40% of Israel’s supply comes from Egypt. Apparently it was people power to forced this move after constantly attacking the pipeline.

Egypt’s energy companies have terminated a long-term deal to supply Israel with gas after the cross-border pipeline sustained months of sabotage since a revolt last year, a stakeholder in the deal said on Sunday.

Ampal-American Israel Corporation, a partner in the East Mediterreanean Gas Company (EMG), which operates the pipeline, said the Egyptian companies involved had notified EMG they were “terminating the gas and purchase agreement”. 

The company said in a statement that the Egyptian General Petroleum Corporation and Egyptian Natural Gas Holding Company had notified them of the decision, adding that “EMG considers the termination attempt unlawful and in bad faith, and consequently demanded its withdrawal”

It said EMG, Ampal, and EMG’s other international shareholders were “considering their options and legal remedies as well as approaching the various governments”.

Before the sabotage, Egypt supplied about 40 percent of Israel’s natural gas, which is the country’s main energy source.

Israeli officials have said the country was at risk of facing summer power outages due to energy shortages.

Companies invested in the Israeli-Egyptian venture have taken a hit from numerous explosions of the cross-border pipeline and are seeking compensation from the Egyptian government of billions of dollars.

Ampal and two other companies have sought $8 billion in damages from Egypt for not safeguarding their investment.

As usual ZeroHedge has a very interesting view point.

The only question Israel may want to answer now is whether it wants to get cozy with Russia, whose nat gas it may suddenly be very, very attractive. And for that to happen, it means a huge softening in its anti-Iran tone, which in turn will have a huge impact on regional geopolitics, and specifically the risk of war in Iran, and thus the price of Brent. All of this, of course assumes, Israel does not immediately retaliate against Egypt, recently a big recipient of US aid, not to mention tear gas, and start a pre-emptive two front pre-war…

 

Source: ZeroHedge

EU To Approve Influx Of Turkish, Algerian, Tunisian, Moroccan Workers

1 Comment

The Slog has released information of a decision soon to be announced by the EU, that Turkey first all will be allowed access to EU labour markets and social welfare rights, followed by Tunisia, Morocco, Algeria, Croatia, Macedonia and Israel. This also appears to have social welfare implications to workers currently in the EU. As the Turkish economy is about to go down the toilet( built on cheap credit, ring a bell), there would massive influx of workers. Are you taking note Germany ? 😉

The Slog has obtained sight of an official Brussels Commission document which, while not confidential, has not as far as I can tell been the subject of MSM coverage, or indeed any vote at all among MEPs. Although dated March 30th 2012 as a ‘proposal for a decision’, I can reveal that the decision has been approved and is already going ahead. It is to grant Turkish citizens the same residency and labour rights in Europe as existing EU citizens.

The unelected European Commission has repealed the 1980 Ankara Accord between what was then the EEC and Turkey, and replaced it with a major change to the rights of Turkish citizens in the EU. The proposal was presented to a working group (we know not who) eleven days ago on March 30th, and approved by that same anonymous gathering. It specifically adds that ‘A first package with similar proposals in respect of Algeria, Morocco, Tunisia, Croatia, the former Yugoslav Republic of Macedonia and Israel was adopted by the Council in October 2010′ and that this too will be updated to bring it into line with the Turkish proposals.

The following is in relation to access of existing workers to social welfare.

‘this [Turkish accord] will facilitate the application of these provisions by Member States’ social security institutions. This Decision shall apply:

 (a) to Turkish workers who are or have been legally employed in the territory of a

Member State and who are or have been subject to the legislation of one or more

Member States, and their survivors;

 (b) to the members of the family of workers referred to in point (a) provided that these

family members are or have been legally resident with the worker concerned while

the worker is employed in a Member State;

To make this decision at a time when the EU countries are struggling economically makes no sense, especially when an influx of migrants looking for work competing with rising unemployment would create huge tension. The Slog goes on to criticize the decision.

 I do not employ the phrase  ‘ lunatic Commission decisions’ above lightly. Any unelected and yet sovereign body happy to take on the welfare needs of these workers at a time of euro meltdown must be deranged at least. To enumerate the idiocy involved here:

1. Turkey’s economy under the closet Islamist Recep Erdogan is about to go bang. Enter millions of jobless Turks stage left.

2. Turkey has already threatened to annex Cyprus…both parts of which represent an existing EU member.

3. Algeria, Morocco, and Tunisia are all recently destablised States with growing Islamist power in their politics.

4. Um, none of them – including Israel – are in Europe. Small point, but worth bringing up I feel.

5. All four of the above States are anti-Israel in the most bellicose manner.

6. Germany has just passed a law denying these very rights to unemployed ClubMed citizens. How are they now going to feel in the light of this new law? How is Gunter Grass going to feel, having just been banned by the Israeli Government?

7. The anti-Islamist security ramifications of the new law would be horrendous.

 

 

 

Likely Attack Dates On Iran

4 Comments

As the USS Enterprise makes its way through the Suez Canal, the US will shortly have 3 aircraft carriers in position in the Gulf. Israel cabinet has approved a strike on Iran. Azerbaijan has granted Israel access to airbases in its territory along Iran’s northern border for potential use in a military strike against Iranian nuclear facilities.

ZeroHedge has calculated the most likely dates of attack based on the new moons (when most attacks begin) for the year ahead. Although certainly not a foregone conclusion, anyone who has being paying attention would agree it does look very likely that once the war machine gets going, its hard to stop.

See also Banks love war.

Remember our debt expansion chart below. What always happens?

Israeli Cabinet Approve Iran Attack.

1 Comment

Netanyahu had struggled to get approval for an attack on Iran and has finally got his way. Lets be honest, it was only a matter of time as the MSM and many US politicians have been beating those war drums. As ZeroHedge has reported, shortly after the announcement from NRG, Brent Crude went up to $126 per barrel as a sign of things to come. If this story is correct, its hard to see why Netanyahu would get approval unless he definite with going ahead with the attack. 

Of course a unilateral unprovoked attack is an act of war and illegal, but that’s nothing new for Israel 😉 They make up their own rules.

According to Israel’s NRG, in a just completed cabinetvote, for the first time Netanyahu has gotten a majority (8 over 6) supporting an Iran attack. NRG also notes that at this point Israel has decided to not wait until the US elections in November before proceeding with sending crude to the stratosphere. From NRG (google translated): “Israeli political sources believe that Prime Minister Benjamin Netanyahu a majority Cabinet support Israeli military action against Iran without American approval….He announced that he would not hesitate to perform the operation without the approval of President Obama mentioned the precedent of the decision to attack the Iraqi reactor, Prime Minister Menachem Begin, and with the comments heard yesterday some cabinet ministers say privately that “It sounds like a speech preparation for attack.” Political – Security Cabinet 14 ministers. According to estimates, at this  stage tend to support Netanyahu and
Barak’s approach eight ministers, and six against it
(including the traditional opponents octet: Moshe Ya’alon, Dan Meridor, Benny Begin and Eli Yishai).

Strange coincidence that the US are moving in more air craft carriers into the gulf just at this time. Included in this is the USS Enterprise which is due in the next few days. Hey, isn’t that the one that’s 50 years old and due to be decommissioned next year. Wouldn’t it be convenient if Iran was to be blamed for an “attack” on this on the USS Enterprise.  Then it would be easier for US and Israel to sell an attack to its people. Sorry thats the cynic in me. See Gulf Of Tonkin excuse for Vietnam War, or Lavon Affair.

%d bloggers like this: