JERUSALEM NEWS
NEWS AND INFORMATION
Events, happenings, and Opinions Concerning
Israel, Israelites, Judah, and Everyone Else
Jerusalem News-771
Jerusalem News-771
16 Iyar 5768, 21 May 2008
Contents:
1. President Bush tells Arabs: You're
running out of oil -
2. Black on Black Progroms
in South Africa
3. Another Second Temple quarry uncovered
4. Red Sea-Dead Sea Proposed Canal
5. The High Cost of Oil Dependence and Brit-Am Commentary
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1. President Bush tells Arabs: You're
running out of oil -
http://news.scotsman.com/latestnews/You39re-running-out-of-oil.4095858.jp
Bush to Arab nations: You're running out of oil
By TRISTAN STEWART-ROBERTSON AND MIKE THEODOULOU
Excerpts:
Mr Bush's family name is inextricably linked to the oil industry,
and this was his strongest statement yet on the future of global supplies.
He told the conference: "The rising price of oil has brought great wealth to
some in this region, but the supply of oil is limited, and nations like mine are
aggressively developing alternatives to oil.
"Over time, as the world becomes less dependent on oil, nations in the Middle
East will have to build more diverse and more dynamic economies."
The president's speech was made only days after he urged Saudi Arabia to
increase oil production to ease prices at the pumps, as millions around the
globe face increasing costs of filling up and even more grapple with rising food
bills.
The future of Scotland's own North Sea oil supply is an issue for both
politicians and consumers, who were given a taste of limited fuel shortages
during the Grangemouth refinery dispute.
The US has turned dramatically towards biofuels, with Congress raising the
federal requirement for using the oil alternative from 6.5 billion gallons last
year to nine billion gallons this year. As a consequence, about a quarter of the
American corn crop was used for biofuels last year, driving up the price of corn
and, hence, also the price of food for millions of families.
Predictions of when the world's oil supplies will fall below global demand range
from as early as the next decade, to as late as 2050. Mr Bush has been
criticised throughout his term in office for not encouraging more energy
alternatives in the US, and for allowing controversial drilling explorations for
new fossil-fuel supplies in often environment-ally sensitive areas, such as
Alaska.
Analysts warned last night that few in the Middle East, which has two-thirds of
the world's oil reserves, are likely to heed Mr Bush. Many have already started
diversifying their economies and do not like being preached to by someone so
unpopular in the region.
Although he praised parts of the Arab world, commentators said Mr Bush had
angered many with a speech at the Israel parliament last Thursday, in which he
offered unflinching support for the Jewish state but mentioned the Palestinian
dream of statehood only once.
The knock-on effect of rising fuel costs has led to increasing food prices and
subsequent riots around the globe, as high prices hit some of the world's
poorest.
There is now a desperate attempt to find oil from alternative sources to keep
the supply flowing.
Potential sources in Canada would cost almost three times as much to produce as
conventional crude oil because they have to be extracted from tar sands.
Although the supply, in Alberta, is estimated to be second in size only to Saudi
Arabian reserves, the production costs are unlikely to offer much relief for
consumers.
While the Bush presidency has tried to reduce its dependence on foreign oil, it
has yet to decrease fuel use, say critics.
While the UK produces about 0.3 per cent of the world's supply of oil and uses
about 2 per cent, the US produces 2.5 per cent but uses 24 per cent.
BOTH George H Bush and George W Bush will be remembered almost as much for their
connections to oil as to the presidency.
Bush Snr owes his fortune to Texas crude, while his son also took posts in the
industry before following in his father's footsteps into politics.
Commentators have accused Bush jnr's drive to war in Iraq as merely a quest for
oil, with potentially billions of dollars in profit to be made from opening up
the country's oil reserves ? if Iraq was ever stable.
Don't expect high prices and shortages of petrol to improve in the short term
ANALYSIS: George Kerevan
HOW close are we to "peak oil", when the world's oil supplies will start to
diminish? Petroleum output has shot up by a nearly third since the early 1990s
to around 83 million barrels per day, suggesting we are able to squeeze more
production when necessary.
But the International Energy Agency predicts oil demand will double between now
and 2030 as a result of rising car use in countries such as China. As no major
oil fields, those with over 500 million barrels, have been discovered for a
generation, this rising demand will be very difficult to meet.
One source will be in small oil fields of the kind being hunted by Scottish
companies such as Cairn Energy. Such fields are expensive to find and costly to
tap due to the huge infrastructure required. The fact that oil has shot up to
$128 ($65) a barrel, the highest ever even taking account of inflation
might make this possible.
Another source of oil lies in the vast tar sands of Canada. But extracting
useable oil from tar involves a vastly expensive industrial process which also
results in big emissions.
It is possible to squeeze extra oil from older fields such as the North Sea.
This is done by pumping water (or ) into the wells to blow out more oil. But
this destroys the sponge-like membranes which contain the petroleum, meaning you
get more oil out in the short term but less in the longer term.
Gordon Brown wants Opec to pump more oil to bring down prices. But experts
suspect that the size of Opec reserves (80 years at current consumption) have
been greatly exaggerated by local politicians. If so, peak oil could be here
sooner than we think, some predict as early as 2012.
2. Black on Black
Progroms
in South Africa
http://news.scotsman.com/latestnews/39Let39s-go-and-kill-foreigners39.4095872.jp
'Let's go and kill foreigners'
Death toll in double figures and hundreds hurt as South African mobs target
migrants from Zimbabwe
3. Another Second Temple quarry
uncovered
http://www.jpost.com/servlet/Satellite?cid=1210668678682&pagename=JPost%2FJPArticle%2FShowFull
By ETGAR LEFKOVITS
4. Red Sea-Dead Sea Proposed Canal
From: J
Botha
<virago@mweb.co.za>
Subject: Red-Dead Plan
Shalom Yair
- Wandered what your thoughts are on the below linking Ezekiel 47 to it - truly
amazing times we are living in - thanks for all the info - keep up the wonderful
work - anticipating our soon return to the Land (Eretz
Israel)!
J Botha
- South Africa
Dramatic new support for Red-Dead plan
Judy Siegel-Itzkovich , THE JERUSALEM POST May. 16, 2008
http://www.jpost.com/servlet/Satellite?cid=1210668650235&pagename=JPost%2FJPArticle%2FShowFull
Excerpts:
A group of Israeli and foreign businessmen and bankers are finally
ready to build a $3 billion canal between the Red and Dead Seas, desalinating
the water, producing hydroelectric power and yielding profits, clean water, jobs
and potentially unprecedented regional cooperation.
The project could create work for a million Israelis, Palestinians and
Jordanians, draw eight million tourists a year to Israel, and produce a billion
cubic meters of desalinated water.
Jordan's King Abdullah and Saudi Prince Walid bin-Talal have already given their
enthusiastic endorsement of the project, according to its initiators.
The dramatic Valley of Peace initiative in the Arava was unveiled Thursday - the
60th anniversary of Israel's Independence on the Gregorian calendar - by
57-year-old Israeli billionaire Yitzhak Tshuva, owner of the El-Ad Group that
includes Manhattan's Plaza Hotel and Delek, Israel's second-largest oil and gas
company.
With inspiration and involvement from President Shimon Peres, the project needs
only government approval, as Tshuva said that tycoons such as Shari Arison, Nohi
Dankner and Stef Wertheimer have all committed themselves to investing money in
the project.
Tshuva, who sat with Peres along with other leading business people, said that
the 166-kilometer-long canal between Israel and Jordan would be only the
beginning. The planned Valley of Peace through the Arava would be developed to
include tens of billions of dollars worth of hotels (with 200,000 beds) and
other tourist attractions, clean industry and one of the largest botanical
gardens in the world - providing a million jobs.
It would quadruple tourism to Israel from today's two million annual visitors,
he said. The billion cubic meters of desalinated water it would yield would make
the Arava green on both sides of the border, said the 57-year-old real estate
and fuel tycoon as Peres smiled broadly. Greenhouses would raise winter fruits
and vegetables and sell them in the region and abroad.
The area would, according to this "amazing vision," be turned into a free-trade
zone, attracting investment from around the world. A high-speed train line and
highway would run alongside the canal, transporting people and goods between the
Dead and Red Seas within an hour, according to a sophisticated audiovisual
presentation shown to the audience.
5. The High Cost of Oil Dependence and
Brit-Am Commentary
Foundation for Defense of Democracies, Daveed Gartenstein-Ross
http://www.israelunitycoalition.org/news/article.php?id=2727
Brit-Am
Commentary:
Highlights from the above article:
Oil is now $125 a barrel and gas ca.$4 a gallon.
Chavez of Venezuela aims to drive the price up to $200 a barrel.
Article blames oil-producing nations for pushing up price of oil
and for funding terrorism.
Iran receives 85% of its government revenue from oil and buys arms and finances
nuclear research with it as well as paying armed militias to destabilize Iraq
and attack US forces there.
Iran gives $200 million a year to the Hizbullah and more money to other similar
groups.
Saudi Arabia uses oil money to finance the world-wide spread of radical Islam.
Current worldwide food crisis due to rise in oil prices.
US present economic troubles also due to oil price rises.
Suggested Brit-Am solution:
a) Oil sources now under US control e.g. those in Iraq should be developed and
US control ensured.
b) Being prepared to take control of oil sources in Iran, Saudia, Venezuela,
etc, when opportunity presents itself.
c) Developing alternate energy sources that will be environmentally friendly and
not divert resources from other needs.
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