(Green Prophet) Susan Kraemer - The Leviathan gas find tosses out Israel's previous relationship with the world. The biggest deep-water gas find in a decade has enough reserves to supply Israel's gas needs for 100 years. Currently, 71% of Israel's electricity is fueled by imported Russian coal. Coal plants are fairly easily converted to burn natural gas, as U.S. utilities have found. Israel can now easily and economically swap almost three-quarters of its current electricity portfolio to one with less than half the carbon cost. With this find, Israel is not just energy independent, itself. But customers from throughout Asia are now wooing the formerly friendless nation, desperate for the last drops of fossil fuels.
2011-01-03 07:57:36Full ArticleBACK Visit the Daily Alert Archive