By: David Krantz

David Krantz — Sat, 05 Feb 2011 18:58:53 +0000

My hope is for the world’s power needs to be met completely by renewable-energy sources, and it would be wonderful if in the near future — or even in the next 50 years — the world transitioned to renewable-energy sources at such a scale as to cause decreased demand for fossil fuels — but at the moment, the only fossil fuel that seems likely to experience a marked decline in demand is oil. Even if Israel were to build enough solar facilities as to obliterate its need to burn natural gas, Europe would still be anxious to find a new natural-gas provider to compete with Russia’s state-controlled Gazprom. So if the natural gas in the ground beneath the Mediterranean is going to be extracted no matter what — and with the money at stake, that’s a given — the question becomes how that money is allocated and to whom. Israel has a tremendous opportunity to secure its fiscal future, and a better quality of life for all of its citizens. I hope that the Knesset chooses wisely.

By: Joe Orlow

Joe Orlow — Sat, 05 Feb 2011 18:29:26 +0000

It will be several years before these gas fields are up and running on a practical basis. In that time, energy technology, like solar energy, is going to become more advanced and widely available. Although expressions like “$300 billion in the ground” abound, I wonder if over the lifetime of the fields, even in the near term, the value may be much less because alternative energy sources are available much more.

Comments on: Power to the People? Energy Battle in Israel Pits Firms vs. Public Interest

By: David Krantz

By: Joe Orlow