A joint US-Israel exploration finds 3 trillion cubic feet of natural gas off of Israel's Mediterranean coast.
"News of the deposit, which is three times as large as a site already in production off the country's southern coast, sent energy shares soaring in a country anxious to reduce its dependency on foreign fuel.
"This is one of the most significant prospects that we have ever tested and appears to be the largest discovery in the company's history," Charles Davidson, Noble's chief executive, said in a statement."
This find could meet Israel's needs for ten years. Now, if only the U.S. would drill and harvest the reserves of its shores.
Oh. And more good news! Lebanon wants a piece of the pie without any of the work. What could go wrong?
