Research done by the U.S. Department of Interior and U.S. Geological Survey suggest that Israel has oil and gas waiting to be uncovered. According to the U.S. Geological Survey, estimates show a mean of 1.7 billion barrels of recoverable oil and a mean of 122 trillion cubic feet of recoverable gas in the Levant Basin using geology based assessment methodology. The Levant Basin encompasses 83,000 square kilometers of the Eastern Mediterranean Sea.
Why this is important for Israel?
Israel’s Energy Minister, Dr. Yuval Steinitz said it appears the offshore natural gas field is “a bigger find than first thought, and contains substantial reserves.” He also stated that “Israel is working to become an energy exporter and regional gas player, with plans to supply Egypt and Turkey with gas, and eventually pipe product to Italy and western Europe.”
According to the World Oil article written by Craig Fleming in March 2017, the Israeli government will potentially take a 20% royalty on the production and use the proceeds to improve public health, while reducing pollution by using less coal for power generation. Israeli officials intend to provide gas to external customers with no pricing constraints, and no government interference in the transfer of hydrocarbon resources.
Why this is important for us?
Israel is God’s chosen nation and those who support Israel will be blessed. We have the opportunity to back Israel in a biblical sense. In Exodus 3:17 God says “I have promised to bring you up out of your misery in Egypt into the land of the Canaanites, Hittites, Amorites, Perizzites, Hivites and Jebusites–a land flowing with milk and honey.” This verse strikes me with a sense that the land flowing with milk and honey means a prosperous land. Oil and gas are highly valuable resources that potentially could help others gain financial and economic independence.
Zion Oil & Gas Inc. is set to spud a well in May 2017 in the land portion of the Levant Basin in Israel. They are a biblically driven oil and gas company looking to support Israel. Currently their stocks are valued at $1.28 (has since gone up since originally writing this). Zion has not struck substantial amounts of oil in the past, to my knowledge but are hopeful to in the future. There are other oil companies drilling in Israel as well.
I am not saying you should or should not invest in oil stocks. I am simply sharing this information I have found recently. I pray everyday for blessings and prosperity to reach each one of you. God bless.
*This is simply my opinion only. I am not a stock analyst or registered investment advisor or stock professional and am not intending to suggest which securities or stocks you should buy or sell for themselves. Investing involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. It is possible that I may have a position in stocks or funds discussed within this site. Nothing contained herein should be construed as a warranty of investment results. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. All investors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Sources Cited
Introduction. Assessment of Undiscovered Oil and Gas Resources of the Levant Basin Province, Eastern Mediterranean. Reston, VA: U.S. Geological Survey, 2010. N. pag. Web. 29 Apr. 2017.
Fleming, Craig. “CERAWeek `17: Israel’s Energy Minister Discusses Prospects for Levant Basin.” CERAWeek `17: Israel’s Energy Minister Discusses Prospects for Levant Basin. World Oil, 13 Mar. 2017. Web. 29 Apr. 2017.