Wednesday, August 25, 2010

The Blessing of Oil

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.

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