With the world markets being down in the dumps it’s heartening to see that some are still making it. Israel Chemicals Ltd., which harvests minerals from the Dead Sea to make fertilizers and chemicals, said fourth-quarter profit jumped 82 percent as demand for potash and phosphate fertilizers led prices higher.
Earlier this week we posted about their recent deal with Yam Thetis. It seems that not only natural gas is profitable but “ICL showed very strong results in fertilizers,” Limor Gruber, an analyst at Psagot Investment House Ltd. in Tel Aviv, expalins.
“The surprise was that fertilizer prices were higher than forecast, and the company paid very little tax.”
Let’s hope that green paying off inspires more and more companies to befriend our home.
Source: Bloomberg
Author: Jack Reichert
As far back as he can remember Jack Reichert has been interested in the environment. In the second grade, he rallied all of his classmates to donate one recess a week to cleaning up litter from the schoolyard. That was the same year that a city councilman asked him to help with his campaign because of the letter Jack had written asking him to clean up Boston Harbor. Ever since Jack has followed the development of the international green conscience with anticipation and hope that one day we will treat Mother Earth with the respect she deserves and not turn her into another Giving Tree. For tips, feedback and prophet sightings, Jack can be reached at jack (at) greenprophet (dot) com.
Can’t say I agree with you on this one Jack. These fertilizer companies are raping the Dead Sea… some are making pretty nasty chemicals and byproducts from what they reap –especially when they create flame retardents.
Karin