By Micah Halpern
I've Been Thinking:
They struck oil in Israel. You know ... black gold, Texas tea.
Oil not gas.
Gas has been in the news a lot lately, mostly due to the huge reserves discovered and now being tapped in the Mediterranean Sea.
But now we're talking about oil. A group of companies have partnered together in order to pump the new found oil.
The oil was found near the Dead Sea in a place called Marimur. It was discovered by the same group that first discovered oil in Halamish in 1995 and is located very nearby.
Ever since 1995 there was believed to be a small but significant oil reserve at that spot. At the time, the low price of oil helped the owners' investors make the decision not to drill.
But now, despite the low price of oil, things might be different.
This is very big news.
It will not make Israel a large oil producer or even exporter--- but it will put her on the oil producing map.
Micah@MicahHalpern.com
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