Amendments to legislation aimed to publicize millions in tax revenue collected from natural gas companies may in fact delay the process, some lobby groups claim
Photo Credit: Flash90
Israeli fisherman looking at the Leviathan natural gas rig off the Dor Habonim Beach Nature Reserve, January 1, 2020.
Binyamin Zomer, Vice President for Regional Affairs at the American multinational energy corporation Chevron, last week said the company estimates that the coming decade will see a 50% increase in global natural gas consumption, from 60,000 BCM to 90,000.
Chevron recently completed its acquisition of Noble Energy, which operates two gas fields off Israel’s coast. One of Chevronâs first moves last October, upon completing the purchase of Noble, was to turn off the flow of gas to the Israel Electric Company (IEC) and demand much higher prices (After Acquiring Noble Energy, Chevron Shuts Off the Gas to Israel, Demands Higher Prices).
Israel
By Yoni Weiss
Updated Wednesday, January 6, 2021 at 4:36 pm
YERUSHALAYIM -
Updated Wednesday, January 6, 2021 at 4:36 pm
(AP Photo/Alan Diaz)
The Special Committee for the Israeli Citizens’ Fund chaired by MK Avi Dicter (Likud) discussed on Wednesday the potential of the natural gas market in Israel, and the potential for exporting natural gas.
The Israeli Citizens’ Fund is designed to accumulate revenues paid to the state treasury from the super-profits tax levied on gas reservoirs since 2011, as recommended in the Sheshinski I Committee report, and from revenues paid to the state treasury from the super-profits tax levied on producers of natural resources since 2015, as recommended in the Sheshinski II Committee report.
Chutzpah of the Day
shares
I guess I could rename this “cultural appropriation of the day”, because it is an Arab MK who is personifying
chutzpah
Joint List MK Sami Abu Shehadeh was kicked out of a meeting of the Knesset Special Committee for the Israeli Citizens’ Fund after he made harsh comments in Arabic towards Emirati guests taking part in the meeting on Tuesday.
“Do you understand what you need to do, or do you not understand the whole dialogue about normalizing the relationship?” Abu Shehadeh asked the Emirati guests in Arabic. “I guess there can be a lot of problems, but it is clear that moral standards also play a role in the world. Even if there are economic implications at some level (getting into each other’s stuff) you know there is a problem.