Around 80 million barrels of oil are produced throughout the world every day. Saudi Arabia, the world's largest oil supplier produces 11 million barrels per day (13.9% of estimated world total). Rounding out the top five - #2. Russia produces 9.9 million barrels per dday (12.5% of the world total), #3. United States produces 8.3 million bpd (10.5%), #4. Iran produces 4.2 million bpd (5.3%) and #5. Mexico produces 3.8 million bpd (4.8%)
Every year, Israel consumes more and more oil, and we rely on foreign markets (mostly Russia) for 99% of our oil.
Granted that Israel did not receive the bessings of oil from our Patriarchs, but even a little oil would be appreciated.
Well, perhaps we've got that little oil now. There's a digging site by the Givat Olam oil firm that has struck oil, and has a possibility, according to Givat Olam, to producing about 380 barrels of oil a day and 90 barrels of gas. Okay, Israel is the world's 35th largest oil user, needing about 279,000 barrels a day, but this news means there are 380 barrels a day less that we need to buy outside our country.
Is there really oil? Will it really help the State of Israel and the Jewish People? I certainly hope so. The owners of Givat Olam are off to a good start.
At the end of their stockholders meeting a few days ago in Jerusalem, Givat Olam announced that it would give "25 percent of the general partnership's profits from the crude to charity.” That's the way a Jewish oil man should act.
When the meeting ended, each of the shareholders were given a bottle of honey and a bottle of crude oil. Both of them, hopefully, will contribute to providing the Jewish people with a sweet and prosperous new year.