It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
Originally posted by greeneyedleo
We are going live again.....
Callers are encouraged
* IEI says could produce 50,000 bpd at cost of $35-$40/bbl
* Rupert Murdoch, Jacob Rothschild are key investors
By Ari Rabinovitch
JERUSALEM, April 27 (Reuters) - A subsidiary of U.S.-firm IDT Energy (IDT.N) is leading a push in Israel to tap into the country's vast deposits of oil shale.
The company, Israel Energy Initiatives (IEI), has already invested "tens of millions of dollars" in preparing a pilot project it hopes to launch by the end of 2011, CEO Relik Shafir told Reuters.
"If successful, in a few years IEI could start producing 50,000 barrels of oil a day, or 20 percent of Israel's consumption, for 30 years," Shafir said.
The division of IDT that owns IEI is called Genie Energy, and it has already brought investments from financier Jacob Rothschild and media mogul Rupert Murdoch. Together they own a 5.5 percent stake worth $11 million, according to a company statement from November.
Originally posted by SusyQ30
It sucks that you have to post over 200 posts in order to get into ats chat.