The nation of Israel is sitting on one of the largest natural gas deposits in the world and has started to harness and export the valuable fuel. A financial analyst is saying it’s a boon to the country now – but could easily turn into a blight.
The three or four offshore fields were discovered about a decade ago, and now Israel has become an energy exporter in a region chock-full of energy-producing countries. About a year ago, Israeli Prime Minister Benjamin Netanyahu said it’s a strategic and political tool as well as a moneymaker:
Netanyahu: “We think that this will open up new energy opportunities for Europe. It’s important for the security of Europe; it’s important for our respective economies; it’s important also for the anchoring of additional regional cooperation.”
Dan Celia with Financial Issues Stewardship Ministries suggests Israel could have some trouble finding steady customers for its newfound resource. He expects the Boycott, Divest and Sanction (BDS) movement will keep some customers away, and Israel’s Arab neighbors – initially receptive to Israeli energy – he says will make inconsistent customers at best, for obvious reasons.
“My fear is that Israel is going to embrace this a little bit quicker than they should, of some of the Arab/Islamic world, and … I hope they’re not looking for anything other than economics,” he states.
In fact, Celia says Israel’s new wealth puts the country in some danger. “The economic peace or the economic windfall that it’s going to mean for Israel is going to create another reason for their enemies to envy and despise the Jewish people,” he tells OneNewsNow.
Click here to read more.
SOURCE: One News Now, Steve Jordahl
BCNN1 WP 