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A Leviathan sized greed strikes

Jack H Barnes's picture




 

 

A Leviathan sized greed strikes

When
a nation becomes greedy, while not a unique event, it is rarely good
for the national long-term best interests of its citizens.  There is a
case already brewing that will be interesting to watch unfold.  The
largest energy find since the Brazilian deep-sea Tupi (new Lulu) field has been announced lately.

It is already changing the dynamics of the politics in its area.  A
nation that has always been energy dependent on imports is now going to
find itself an energy exporter.  What they do with this new source of
wealth will shape their national destiny for the next century.

For the first time since Norway,
a developed western nation with a high technology based economy has
discovered enough hydrocarbons that they can realistically change their
future, today.  There is already pressure on them to export their
hydrocarbons via underused LNG facilities in neighboring Egypt.

The implications are clear.  What happens next will decide the real
long term future of Israel.  How they adjust to this new found wealth,
both in developing the usage of the raw hydrocarbons into value added
exports and in the tax revenue generated will shape the future.

They can change over their society to one based on Natural Gas,
instead of crude oil.  While this sounds radicle, it really isn’t. 
Natural Gas is the perfect energy source for providing a single source
of BTUs.  It is the cleanest of the hydrocarbons and needs very little
processing to be put to use.

However, before the first production well is drilled, before the
first FEED contract is signed to develop either of the properties, the
nation of Israel is already tearing up the signed contracts it has with
the companies that took all the risks necessary to find this new
world-class giant resource.

This event, if it starts to be a recurring theme, will slow if not
stop the development of these fields before they can be tapped.  The
reality of the geology makes it clear that there is a significant chance
of additional giant or super giant fields to be found in the region.
They will most likely be in neighboring national waters.  You don’t find
two world-class fields next to each other and nothing else in a region.

“I am really disappointed with the recommendations,” said Gideon Tadmor, the head of Delek Energy,
the oil and gas arm of Israel’s Delek Group, a conglomerate controlled
by billionaire Yitzhak Tshuva. “It will be very hard to encourage
investors to continue to invest in this sector.”

“Tens of billions of shekels will need to be invested [to develop
exports]. In order to do that, the government needs to be friendly to
investors and give them a feeling that there is stability.”

Charles Davidson, Noble’s chief executive, said in a statement that
the company opposed tax changes applied retroactively for existing
fields.

Mr Davidson added: “Noble fails to understand why
Israel’s government take should exceed that of the United States and the
United Kingdom, where gas markets are dramatically more robust and
developed than that of Israel.”

What have been found so far are two world-class natural gas fields. 
What is unknown is how many more are in the region.  Europe may have
found its next long-term source of energy, to replace the erratic
production curve of their eastern neighbors like Russia.

The Tamar field discovered
in 2009 with 8 TCF of estimated reserves changed the long-term future
of the area.  The nation of Israel will now have a long life NG field
providing its total energy needs for decades.  The find of the Leviathan
field nearby with 16 TCF in estimated reserves has completed the
domestic energy issues for Israel.

What it has also done is unleashed a national wish to rewrite the contracts that are in place.  In doing so, Israel is now talking about taking around 50% of the value of the energy produced
While this number is less than what Norway and other major exporters
nations take, it is more than what was contractually agreed too when the
corporations paid to lease the property.

“According to the recommendations issued Monday, reserves
that begin production before January, 2014, would only have to pay an
increased tax rate after a 200% return on investment. Tamar is the main
reserve that would fall into this category. This exemption would not
apply to Leviathan, which is estimated to hold up to 16 trillion cubic
feet of natural gas, but will not begin production until after 2014.

The committee reiterated on Monday the same recommendation it made in
November, that the state leave royalties on energy discoveries at the
current 12.5%, but levy a tax of up to 62% on energy company profits.
Israel hasn’t increased taxes on the development and production of
petroleum reserves since 1952.”

WSJ

Israel could find its fields undeveloped, as the corporate risk of
further contract hostage negotiations scares away capital.  They do not
have the technology to develop the fields, and greed has killed more
than one major field development before.  The hydrocarbons will always
be there.

What Israel should do, is to embrace a natural gas society.  It burns
cleaner; it can be used in public and private transportation, &
electricity production.  In fact, if Israel were to invest in a fleet of
brand new Combined Combustion NG powered electricity plants;
they could become the electricity exporter to the region.  They have
the infrastructure already in place to quickly become a major Gas to
Electricity exporter.

Since the invention of electricity, nations in the Gulf have needed
more electricity during the heat of the summer months, Israel could fill
this growing need.  A series of modern C.C. natural gas-powered
electrical plants could change the dynamics of the electrical grid in
the region.  A stable electrical grid would help to stabilize the unrest
in some locations like Iraq during the heat of the summer.

If Israel embraces NG, both domestically and as a source of value
added exports, the nation has a chance to change its future, today.  It
also has a very real chance of killing the golden goose before it’s laid
an egg.  Greed kills, the future will be the judge.

Links of Interest

 

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Thu, 01/06/2011 - 00:31 | 851591 gwar5
gwar5's picture

The more gas the better, maybe it will keep prices down everywhere. 

Wed, 01/05/2011 - 23:59 | 851534 steve2241
steve2241's picture

"...the nation has a chance to change its future, today." ----- Israel is a dependency of the United States. Why rock the gravy train? I'm sure the Palestinians are in favor of the gasification of Israel, though. Natural Gas makes a wonderful pyrotechnic.

Thu, 01/06/2011 - 05:42 | 851862 jeff montanye
jeff montanye's picture

israel is dependent on the u.s. like a gangster is dependent on extortion from a merchant.

Wed, 01/05/2011 - 22:29 | 851346 ebworthen
ebworthen's picture

"Tax changes applied retroactively" is the key point here for me.

Remeber that retirement account you've been investing in for 30 years?  That savings account?  The IRS has decided that you should have paid taxes on it, so retroactively, it is now theirs.

Governments of the world have this problem, they are debasing their legitimacy.

Wed, 01/05/2011 - 21:33 | 851228 Seer
Seer's picture

Does this mean that the US can now stop subsidizing Israel?

Wed, 01/05/2011 - 23:55 | 851523 blindman
blindman's picture

no, the subsidies will triple and there will be

new fees, taxes and other assorted compensation

required.  count on it,  probably a bailout or three.

Thu, 01/06/2011 - 00:20 | 851572 Widowmaker
Widowmaker's picture

You forgot accidental record bonuses paid for by your grandkids.

 

Wed, 01/05/2011 - 22:28 | 851348 topcallingtroll
topcallingtroll's picture

We can only hope, but never expect any reciprocity or appreciation on their part. I will be glad to settle for stopping the subsidy and they quit harming our interests and let's call it even.

Thu, 01/06/2011 - 05:37 | 851857 jeff montanye
jeff montanye's picture

oddly no.  the subsidies get nothing from them.  obama promised a major increase for a temporary settlement freeze and got stiffed (of course that's obama; he couldn't drive a hard bargain if his political future depended on it.  oh wait....).

Wed, 01/05/2011 - 20:12 | 851009 THE DORK OF CORK
THE DORK OF CORK's picture

On a lighter note - check out this Israeli soldier at 38 seconds - she can invade my territory anytime she wants.

I reckon she is a Iranian subversive whose mission is to dramatically reduce the fighting effeciencey of the IDF.

www.youtube.com/watch?v=tgEOrSsZgxE

 

Wed, 01/05/2011 - 19:14 | 850839 VodkaInKrakow
VodkaInKrakow's picture

Well, well, well... to Anti-Semites, Israel just proves the point. To The West, who is dependent upon energy supplies... well... well... well... what to do. Seek the most favorable deal possible while each other's throats. Israel can play bluff with The West. In the end, who needs the energy more?

And do not forget about China. Where will all those BTUs head? East or West is anyone's guess. However, Israel should be warned, do not take any of those possibly worthless dollars that China holds in their big basket of currencies. Take the gold. King Solomon's Gold.

You have been warned. This is now a dog-eat-dog world, dear fans. Who is willing to fuck whom over what remains to be seen. Sit back. Enjoy. Have fun.

Welcome to The Circus. Who will be the prostitute to service all the johns? Which johns? East or West? Suck at the teat of The Master Race.

Wed, 01/05/2011 - 18:53 | 850768 flacorps
flacorps's picture

I had always figured Israel's behavior would bring on the events foretold in end-time prophecies. But now it appears the more customary motivation of greed will do just fine.

Wed, 01/05/2011 - 20:48 | 851123 VodkaInKrakow
VodkaInKrakow's picture

I am going to love on you :)

All those 'Rapture' prophecy bullshit started around 1830 in England.  You have it correct... greed will do just fine. The rest of the fear-seeking peasant dogs who believe in 'the End Times' are insane and delusional. Exactly like most posters on zerohedge say that 'Economics' is a voodoo science - and then proceed to break out the charts and diagrams of economics to prove just why the current economic system is doomed.

What a bunch of programmed tools. And they don't even know it. They are tools. Perfect tools. More than perfect tools. A bunch of f*cking c*nt losers. The very people who claim to be 'independent' yet are akin to Moldovan whores chained to a bed in a certain town in Syria on the border servicing Arab and multinational clients.

Wed, 01/05/2011 - 18:52 | 850763 bankruptcylawyer
bankruptcylawyer's picture

this is the stupidest criticism ever. it is from an outsider who really doensnt have a handle on politics in israel.

israel was founded through extreme cooperation, via the socialist kibbutz model. anyone who knows ANYTHING about israel is that the slow turnover to capitalism has not only brought with it a healthy tech sector and investing base, but it has also brought bad things, like more crime and a the creation of an ultrawealthy class system comprised of a few families (like that of tshuva) that now run the country. if israel isn't careful, these people will attempt to take over the country and run it like a bunch of thugs just like putin and the other oligarchs, running russia with corrupted money. instead the government in israel has perhaps learned something from the american oil oligarchy, not to mention nigeria, saudi arabia, etc....
and other countries where. instead of allowing new found wealth to run the country (as you so stupidly suggest) , they are attempting to prevent a wholesale political oil/gas much from erupting by taking precautions to control how this national treasure is to be distributed.

it's so funny that you think israel is 'greedy' for taxing the wealth. do you even understand how nations' operate? israel is whoever lives there. the oil/gas barrons either take control over government with their newfound wealth, or the government takes proactive steps to ensure newfound wealth is not destructive like in just about every african country.

this article was written by an ignoramus or someone with an agenda lying to the public.

Wed, 01/05/2011 - 22:09 | 851315 Yits and the Yimrum
Yits and the Yimrum's picture

if they have that much gas, its time to start organizing a boycott at the UN level for export from a criminal state

or they can sell it, and pay the US back for our wasted aid and war crime reparations against their neighbors

Wed, 01/05/2011 - 20:39 | 851094 VodkaInKrakow
VodkaInKrakow's picture

Yes, Israel was founded upon perfection and the good deeds of people who have never, ever committed evil.

The kibbutz happened. They made the desert bloom. The average, common person who believed. Those who suffered in far away lands came to Israel and made that happen.

And the rest is history. Today, Israel is just as corrupt as every other Arab, European, North American, Asian, or African continent. If Israel isn't careful they will become corrupt? Son, they are corrupt. They are no better, nor worse, than most of the people on the planet. They are no better nor worse than The Arabs. In terms of corruption, they are the tool of Satan. I will give eveyone a bitchslap in the face... google 'Sibel Edmonds'. That is how corrupt Israel and many others are.

 

/bitchslap

 

Why the tool of Satan? It is in their beliefs. Just like it is in the beliefs of Christianity and Islam. All claim to be 'The Master Race'. In that regards, Jews, Christians, and Muslims are deluded. Jews, because they claim to be 'The Chosen'. Christians due to Jesus. And Muslims subscribe to Mohammed.

Jews, Christians, and Muslims have absolutely no fucking clue who God is or was.

Now there is a statement. You want to know the true religion? I will inform you of the true religion (warning, atheists may disagree, but atheism is itself a set of beliefs - a 'religion'). The true religion is one in which every man, woman, and child recognized 'The Truth'. The all agree about 'The Truth'. There is no question about 'The Truth'. There is, quite simply, no disagreement about 'The Truth'.

 

So keep up with fantasy of every peasant. The Death Cults number in the thousands in Judaism, Christianity, and Islam - each claiming to be "The ONE".

 

To put it into (LOL) Matrix terms, it is all about 'the NEO' (and fuck all of you insignificant peasants who laugh about this).

If any peasant dares to research Zaruthustra, you will see the 'Big 3' represented there. There is your homework.

You are all a bunch of tools. To be used and abused. To be programmed and diseminatted. Welcome to your slavery...

DOGS.

Thu, 01/06/2011 - 05:33 | 851853 Mr Poopra
Mr Poopra's picture

Loyal to the bitter end, i admire your tenacity but we both know it's over.  Thanks for playing.

Wed, 01/05/2011 - 18:41 | 850716 bankruptcylawyer
bankruptcylawyer's picture

this is the stupidest criticism ever. it is from an outsider who really doensnt have a handle on politics in israel.

israel was founded through extreme cooperation, via the socialist kibbutz model. anyone who knows ANYTHING about israel is that the slow turnover to capitalism has not only brought with it a healthy tech sector and investing base, but it has also brought bad things, like more crime and a the creation of an ultrawealthy class system comprised of a few families (like that of tshuva) that now run the country. if israel isn't careful, these people will attempt to take over the country and run it like a bunch of thugs just like putin and the other oligarchs, running russia with corrupted money. instead the government in israel has perhaps learned something from the american oil oligarchy, not to mention nigeria, saudi arabia, etc....
and other countries where. instead of allowing new found wealth to run the country (as you so stupidly suggest) , they are attempting to prevent a wholesale political oil/gas much from erupting by taking precautions to control how this national treasure is to be distributed.

it's so funny that you think israel is 'greedy' for taxing the wealth. do you even understand how nations' operate? israel is whoever lives there. the oil/gas barrons either take control over government with their newfound wealth, or the government takes proactive steps to ensure newfound wealth is not destructive like in just about every african country.

this article was written by an ignoramus or someone with an agenda lying to the public.

Wed, 01/05/2011 - 19:10 | 850825 Jack H Barnes
Jack H Barnes's picture

Bankrupt,

This article is what it is, my personal comment’s about the Rule of Law & National greed.  You do understand basic contract law?

The only agenda I have is calling a spade a spade. Noble Energy investors should consider their legal rights.  They are the victims of this greed.

Disclosure: I am flat all equity investments.  This and other disclosures are available at www.jackhbarnes.com.

Wed, 01/05/2011 - 19:21 | 850866 Cognitive Dissonance
Cognitive Dissonance's picture

Jack,

Don't waste your time. Someone blew the Megaphone and old bankruptcylawyer was just about the only one who showed up. He/she/it isn't here to be reasonable or to conduct an intelligent discussion.

http://en.wikipedia.org/wiki/Megaphone_desktop_tool

Wed, 01/05/2011 - 21:28 | 851210 JR
JR's picture

Issue megaphoning: just one more nail in the polling coffin; the next step to making polling meaningless, like those packaged postcards to congressmen and push polling.

Wed, 01/05/2011 - 18:38 | 850708 steve from virginia
steve from virginia's picture

Israel should keep its gas for itself and its future citizens. Letting others waste it in a hurry is stupid.

Let Israel's military defend Israel's energy supply and let the rest of the world -- and the Middle East -- run out. As for the Europeans, they can simply fuck themselves. They wasted their own and now can fiddle ... in the freezing cold.

Another thing ... Israel should get rid of the goddamned carz. They would then have energy supplies for centuries while the rest of the world rots.

After all, what would Jesus do?

Wed, 01/05/2011 - 18:25 | 850647 bankruptcylawyer
bankruptcylawyer's picture

this is the stupidest criticism ever. it is from an outsider who really doensnt have a handle on politics in israel.

israel was founded through extreme cooperation, via the socialist kibbutz model. anyone who knows ANYTHING about israel is that the slow turnover to capitalism has not only brought with it a healthy tech sector and investing base, but it has also brought bad things, like more crime and a the creation of an ultrawealthy class system comprised of a few families (like that of tshuva) that now run the country. if israel isn't careful, these people will attempt to take over the country and run it like a bunch of thugs just like putin and the other oligarchs, running russia with corrupted money. instead the government in israel has perhaps learned something from the american oil oligarchy, not to mention nigeria, saudi arabia, etc....
and other countries where. instead of allowing new found wealth to run the country (as you so stupidly suggest) , they are attempting to prevent a wholesale political oil/gas much from erupting by taking precautions to control how this national treasure is to be distributed.

it's so funny that you think israel is 'greedy' for taxing the wealth. do you even understand how nations' operate? israel is whoever lives there. the oil/gas barrons either take control over government with their newfound wealth, or the government takes proactive steps to ensure newfound wealth is not destructive like in just about every african country.

this article was written by an ignoramus or someone with an agenda lying to the public.

Wed, 01/05/2011 - 23:06 | 851428 W.M. Worry
W.M. Worry's picture

Your record is stuck. Please lift the tone arm and clean the needle.

Wed, 01/05/2011 - 18:35 | 850692 Misean
Misean's picture

You're just going straight for the "pound on the table like a derainged monkey" bit of legal argument training then?

Wed, 01/05/2011 - 19:08 | 850818 Cognitive Dissonance
Cognitive Dissonance's picture

I found a picture of the deranged monkey poster. Rather a good likeness.

 

Wed, 01/05/2011 - 21:05 | 851160 Hulk
Hulk's picture

Thats Bravo looking at the price of gold...

Wed, 01/05/2011 - 18:28 | 850643 JR
JR's picture
It’s curious that the author does not mention the competing interests by name for the gas reserves in the region.  The Leviathan find, for example, straddles the Israeli-Lebanese maritime border.  It seems a bit misinformative to assume Israel is poised to become an energy giant, discussing only Israel’s relationships with energy development companies.  Reminds one of the kind of onesided press coverage one gets in the U.S. Leviathan Gas Field Could Bring Catastrophe or Opportunity to Israel-Lebanon-Cyprus Borders |  FaST CoMPANY | Dec 29, 2010

A gigantic natural gas field that could yield millions of barrels of oil was recently discovered on the maritime border between Israel, Lebanon, the Gaza Strip, Cyprus, and Northern Cyprus. While it could be a military catastrophe, steps are being taken to divide the spoils.

It can be said that God has a sick sense of humor. Scientists recently discovered a massive offshore reserve of an estimated 122 trillion cubic feet of natural gas called the Levant Basin Province. While it is one of the world's richest natural gas reserves, the Levant Basin Province is located between countries with endless amounts of mutual hatred. It straddles the sea borders of Israel, Lebanon, Palestine, the Republic of Cyprus and the Turkish Republic of Northern Cyprus.

The largest section discovered so far, the Leviathan gas field, is believed to possibly contain, alongside natural gas, 4.2 billion barrels of oil. Leviathan straddles the Israeli-Lebanese maritime border. Israel is currently in a state of war with Lebanon and does not recognize the de-facto Hamas Palestinian government in the Gaza Strip.

Sharp words are already being exchanged between Jerusalem and Beirut. Upon discovery of the fields in June, Lebanon warned Israel not to drill within their maritime borders. Israel then escalated the rhetoric with military threats, as Minister of National Infrastructures Uzi Landau threatened to use force to protect the natural gas fields. Following Landau's announcement, sophisticated security arrangements for Israeli natural gas rigs were leaked to the country's press. As of press time, further surveying is underway.

It is not unimaginable that, in the next regional war, Israeli and Lebanese military elements could target the other's natural gas drills. This has the potential to cause a regional ecological catastrophe.

However, progress is being made. Israel is demarcating their maritime borders with Cyprus. According to Batsheva Sobelman of the Los Angeles Times

Israeli diplomats say the agreement should secure Israel's economic interests in the Mediterranean. Cyprus says this doesn't conflict with a similar agreement signed with Lebanon, still awaiting ratification in parliament.

Cyprus is ending up as the natural mediator in this dispute. While sections of the Levant Basin Province stray into the county's maritime borders, their shares are comparatively small. More importantly, Cyprus enjoys warm relations with both Israel and Lebanon. When large-scale harvesting of these natural gas fields begins, Cyprus may be able to work with other third parties to broker an agreement between Israel and Lebanon.

Meanwhile, as so often happens in the Middle East, other countries are trying to extract as much influence as possible from the natural gas hullaballoo. The Egyptian Foreign Ministry has stated that they are “closely following” the Cyprus-Israel agreement, as reported by al-Masry al-Youm

The ministry is carrying out technical and legal research to ensure that borders under the agreement between Israel and Cyprus do not affect the Egyptian zone, [government spokesperson Hassam] Zaki said.

Egypt is in contact with Cyprus on the issue given the previous agreement between the two countries, he added.

Meanwhile, Turkey went on the diplomatic offensive against the Cyprus-Israel agreement. A Foreign Ministry statement called the maritime border accord “null and void” because it ignored the jurisdiction of the Turkish Republic of Northern Cyprus.

The Turkish Republic of Northern Cyprus was formed following a military invasion of the Republic of Cyprus by Turkey in 1974 following massive intercommunal violence. The only country to recognize the Turkish Republic of Northern Cyprus is Turkey, and 35,000 Turkish troops are currently stationed in Northern Cyprus.

Turkey has stated that it “does not have any claim regarding the maritime areas” subject to the demarcation agreement. Cyprus announced plans to have Noble Energy explore the 800,000 acres of Cypriot waters within the Levant Basin a year prior to the demarcation agreement.

http://www.fastcompany.com/1713023/israel-cyprus-reach-agreement-on-leviathan-levant-basin-natural-gas-field-near-lebanon-and-g

Wed, 01/05/2011 - 19:05 | 850808 Cognitive Dissonance
Cognitive Dissonance's picture

A gigantic natural gas field that could yield millions of barrels of oil was recently discovered on the maritime border between Israel, Lebanon, the Gaza Strip, Cyprus, and Northern Cyprus.

I wonder if that's the reason Israel is turning up the screws on the people living within the Gaza Strip? Of course, they'll claim it's for some other reason. But I remember news stories that were hinting about this large gas field find off the coast, including the Gaza Strip, almost 2 years ago.

Nah, old CD is just a crazy conspiracy theorist. I'm sure this has nothing to do with it.

Wed, 01/05/2011 - 19:27 | 850893 JR
JR's picture

“Do the Name Ruby Begonia Strike a Familiar Note?”

Thu, 01/06/2011 - 02:42 | 851767 Kassandra
Kassandra's picture

Snort!! +1

Wed, 01/05/2011 - 18:24 | 850639 bankruptcylawyer
bankruptcylawyer's picture

this is the stupidest criticism ever. it is from an outsider who really doensnt have a handle on politics in israel.

israel was founded through extreme cooperation, via the socialist kibbutz model. anyone who knows ANYTHING about israel is that the slow turnover to capitalism has not only brought with it a healthy tech sector and investing base, but it has also brought bad things, like more crime and a the creation of an ultrawealthy class system comprised of a few families (like that of tshuva) that now run the country. if israel isn't careful, these people will attempt to take over the country and run it like a bunch of thugs just like putin and the other oligarchs, running russia with corrupted money. instead the government in israel has perhaps learned something from the american oil oligarchy, not to mention nigeria, saudi arabia, etc....
and other countries where. instead of allowing new found wealth to run the country (as you so stupidly suggest) , they are attempting to prevent a wholesale political oil/gas much from erupting by taking precautions to control how this national treasure is to be distributed.

it's so funny that you think israel is 'greedy' for taxing the wealth. do you even understand how nations' operate? israel is whoever lives there. the oil/gas barrons either take control over government with their newfound wealth, or the government takes proactive steps to ensure newfound wealth is not destructive like in just about every african country.

this article was written by an idiot.

Thu, 01/06/2011 - 02:40 | 851764 greyghost
greyghost's picture

all these words to say that isreal is nothing more than a communist country....hell i pointed that out in high school when all that nonsense about kibbutzes was so popular during all that hippie shit 1960's...good god marx and engels were jews.  thats why all the hatred by national socialists [nazis] and communists...somethings never change

Wed, 01/05/2011 - 18:49 | 850758 Cognitive Dissonance
Cognitive Dissonance's picture

So it's OK for the government of Israel to sign contracts, let someone else take the risk, then when the mother lode comes in tear them up? Just asking if you think this is correct.

Because if it's OK then I guess you wouldn't mind having someone do this to you after you've invested a great deal of speculative money in a bankruptcy case?

Let me know your contact info so I can hire you.

Wed, 01/05/2011 - 18:17 | 850617 Misean
Misean's picture

" the head of Delek Energy, the oil and gas arm of Israel’s Delek Group, a conglomerate controlled by billionaire Yitzhak Tshuva."

Thought it said Dalek for the first read through, but Davros would be the controller.  Other than that bit, Dalek would fit better...

Wed, 01/05/2011 - 17:50 | 850502 jakethesnake76
jakethesnake76's picture

Cool, couldn't have happened at a better time. Maybe we can sell them some more guns and maybe other things they need .

Wed, 01/05/2011 - 17:47 | 850484 ILikeBoats
ILikeBoats's picture

Jews in gov't stealing from other Jews, claiming it is on behalf of the rest of the Jews ... what did they expect was going to happen exactly?

Wed, 01/05/2011 - 17:34 | 850406 New Revolution
New Revolution's picture

Greed and passing gas,... and in Israel of all places.   Imagine that....

Wed, 01/05/2011 - 18:13 | 850599 covert
covert's picture

not right. electricity wasn't invented, it was discovered by ben franklin. all of the semites wish to renig, it's part of the survival strategy of the region. the only way to add stability to the region, is to add integrity. none of them are smart enough to go for that.

http://covert2.wordpress.com

 

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