Will Israel become an energy superpower?

Energy resources like oil and natural gas can have a huge impact on a nation’s fortunes. It’s for this reason that it will be so difficult to wean ourselves off of fossil fuels. The riches associated with them are staggering, and it leads to political power in foreign relations as well. Environmentalists and anyone interested in global warming needs to acknowledge this fact, and it’s probably more important to promote alternative fuels and conservation as opposed to trying to stop people around the world from drilling. That just isn’t going to happen.

One new wrinkle has to do with new countries entering the fray on fossil fuels. We have the fracking boom in the US, and now we have news that Israel may be poised to become an energy superpower.

Actual production is still miniscule, but evidence is accumulating that the Promised Land, from a natural resource point of view, could be an El Dorado: inch for inch the most valuable and energy rich country anywhere in the world. If this turns out to be true, a lot of things are going to change, and some of those changes are already underway.

Israel and Canada have just signed an agreement to cooperate on the exploration and development of what, apparently, could be vast shale oil reserves beneath the Jewish state.

The prospect of huge oil reserves in Israel comes on top of the recent news about large natural gas discoveries off the coast that have been increasingly attracting attention and investor interest. The apparent gas riches have also been attracting international trouble. Lebanon disputes the undersea boundary with Israel (an act somewhat complicated by the fact that Lebanon has never actually recognized Israel’s existence), and overlapping claims from Turkey and Greece themselves plus both Greek and Turkish authorities on Cyprus further complicate matters. Yet despite these tensions, following Russian President Vladimir Putin’s surprisingly cordial visit last week, Gazprom and Israel have announced plans to cooperate on gas extraction.

Read the entire article as it goes into the geopolitical issues surrounding this development as well.


America’s energy future

Robert J. Samuelson is usually a grouch when it comes to economics and energy. That includes his harsh skepticism on the ability to do something about global warming.

He’s actually rather optimistic about America’s energy future, but he notes that renewables will not be as big a part of our energy future as environmentalists would want. Coal, natural gas and oil will still be important parts of the energy equation.


Big geothermal test

The potential of geothermal energy is incredible, but we’ll see soon whether we’re making real progress in this area.

Geothermal energy developers plan to pump 24 million gallons of water into the side of a dormant volcano in central Oregon this summer to demonstrate technology they hope will give a boost to a green energy sector that has yet to live up to its promise.

They hope the water comes back to the surface fast enough and hot enough to create cheap, clean electricity that isn’t dependent on sunny skies or stiff breezes — without shaking the earth and rattling the nerves of nearby residents.

Renewable energy has been held back by cheap natural gas, weak demand for power and lack of political concern over global warming. Efforts to use the earth’s heat to generate power, known as geothermal energy, have been further hampered by technical problems and worries that tapping it can cause earthquakes.

Even so, the federal government, Google and other investors are interested enough to bet $43 million on the Oregon project.

Geothermal can be the ultimate example of clean energy, so many environmentalists are excited about this technology.


Obama rejects fast track for Keystone pipeline

This pipeline has become a political football.

President Obama has rejected fast-tracking approval of the TransCanada Keystone XL pipeline, turning aside Republican demands that he sign off on the deal they claim will create 20,000 new jobs and strengthen American energy security.

In a statement Wednesday afternoon, Obama said that he received a recommendation from Secretary of State Hillary Rodham Clinton earlier today recommending that the application be denied.

“This announcement is not a judgment on the merits of the pipeline, but the arbitrary nature of a deadline that prevented the State Department from gathering the information necessary to approve the project and protect the American people,” Obama said. “I’m disappointed that Republicans in Congress forced this decision, but it does not change my administration’s commitment to American-made energy that creates jobs and reduces our dependence on oil.”

The Canadian tar sands are very controversial in the environmental community, so it will fascinating to see how all this plays out.


GM making commitment to solar energy to save money

Many companies are going green because it makes sense financially. GM is a great example, as they are installing fields of solar panels at various location.

General Motors broke ground Wednesday on a six-acre field of solar panels in front of its Detroit-Hamtramck plant as part of an effort to green the production of its Chevrolet Volt extended-range electric car.

DTE Energy will own and operate the 516-kilowatt system as part of its Solar Currents program, which is installing photovoltaic systems at sites such as Monroe County Community College and a Blue Cross Blue Shield of Michigan parking structure in downtown Detroit.

DTE will lower GM’s energy bill because of the solar panels, which were first reported by the Free Press. That savings, about $15,000 a year, will combine with more efficient lighting and equipment updates to lower Detroit-Hamtramck’s energy costs by nearly $3 million annually.

With the large investment GM is making in US auto plants, hopefully we’ll see this kind of progress from them on green energy around the country.

This is just one of many examples of corporate American being ahead of the curve compared to those who view alternative energy in a skeptical light. This is our future . . .


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