Israeli Supreme Court Keystones Opportunity For That Country To Become Energy Independent --- March 27, 2016

Updates

March 29, 2016: in the original post I opined that this entire "story" is simply "political theater." Today, Rigzone is reporting that the Israeli energy minister thinks this "spat," as he calls it, will be over in a matter of months.

Original Post

 

It looks like the decision will be short-lived:

Israel's Supreme Court on Sunday overturned the government's landmark deal to begin pumping natural gas, handing a painful blow to Prime Minister Benjamin Netanyahu and a consortium of energy companies.

The decision gave parliament a year to amend the plan or the framework will be canceled. It cited a clause in the deal that would prevent Israel from making significant regulatory changes for the next 10 years as reason for scuttling it. It argued the clause restricted parliament's powers.

Netanyahu has made the energy deal a centerpiece of his agenda, saying the gas sales from Israel's large reserves would bring energy self-sufficiency and billions of dollars in tax revenues. Critics have said the deal gave excessively favorable terms to the government's corporate partners.

Political theater.

The decision was predicted back in December, 2014.

This tells me Israel is in better shape -- energy-wise -- than "they" would have us believe.

Political theater.