(San Francisco) – Israel has “found” at least 23 Trillion cubic feet of Natural Gas in the Mediterranean, a good portion of which “belongs” to Gaza and Lebanon.
Israel says, in effect, “Screw that.”
The gas and Oil is ours to take and sell. We are the strongest militarily in the area and have global thermonuclear weapons – lots of them. Get used to it.”
Israel, with the Israel Defense Forces as enforcers and guards will suck the gas and oil out of the ground and sell it as fast as they can, from the edges, to steal it away from their neighbors – the Lebanese and the Palestinians.
That will depress world Natural Gas prices world wide and kill the plans of the Major Oil Companies, who are buying up Natural Gas companies.
The Major Oil Companies are very anxious to raise prices a little bit on Natural Gas so they can also raise prices on gasoline. The two fuels have always been closely tied to each other.
The US Government is easily pushed around by Israeli hard ball politics; but, the Majors are not, not at all. The Majors will want to restrict production of Natural Gas to raise prices.
Israel will want to dump 23 trillion cubic feet of Natural gas over a period of a few years in the world Natural Gas Market as fast as they can to keep it from their enemies, the Lebanese and the Palestinians.
Both cannot happen at the same time.
My bet is that Israel will win against the Major Oil Companies and Natural Gas Prices will be depressed for several years.
Why? Simple. Israel, their Intelligence Agency, the Mossad and their bank cronies have more money to buy politicians and US Government “Policy” than the major Oil Companies do.
The US Government will do as they are paid and told to do.