Sunday, August 29, 2010

Israel's 3 Billion Barrels of Oil

Ynet reported:

Noble Energy, senior partner in the Leviathan gas drill, estimated Sunday that the oil reserves located under the site's gas reserves may fill up to three billion barrels.
The Leviathan gas reserves, located some 120 kilometers west of Israel, are believed to contain over 453 BMC (billion cubic meters).

Lebanon challenges Israel's gas claims. Given their location, might Gazan's also stake a claim? Might this be another item to negotiate as Uncle Sam and the Quartet push economic peace?