Breitling Oil and Gas Morning Podcast #231 2-4-13
Imagine a future meeting of the Organization of Petroleum Exporting Countries, where the agenda is set not by Iran or Saudi Arabia, but by the United States. Oh, and the meeting takes place in Tel Aviv — because the other big power in OPEC is Israel.
That’s where the world is headed, thanks to fracking.
But fracking is also about to turn the Middle East upside down: Israel is poised to become the region’s new energy Mecca. Indeed, the Land of David just might be the energy-richest spot on earth.
How rich? By one estimate, Israel’s total oil-shale reserves come to 250 billion barrels. Mind you, Saudi Arabia’s total oil reserves are 260 billion.
In a world where oil and gas demand is expected to rise 35 percent in the next quarter century, the implications could be staggering.