Israel: The New Petro Power?

Trevor Loudon
New Zeal

I so hope this comes to pass.

Oil might not be as abundant as sea water, but there’s enough to last for hundreds of years, if only governments would get out of the way.

Thanks to Shona.

Update: Poorly-Timed Strategic Petroleum Reserve Oil Release Could Cost U.S. Taxpayers $1.5 Billion

Update 2: Why Did Obama Open the Strategic Petroleum Reserve?

…But then I reread the DOE press release: “… the U.S. and its partners in the International Energy Agency have decided … .” Ach so. Our International President strikes again. Ceding control of a uniquely American asset to an international body is troubling, but par for the course in the Obama Administration.

Then I read the press release one more time.

The Administration will continue to consult closely with other consuming and producing countries in the period ahead.

Reserves in the SPR are sufficient to allow Mr. Obama to play this game from now until the November 2012 election.

Uh-oh. Now I’m really paranoid…

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