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It Must be Peak Oil Driving Saudis to Solar

As oil supplies decline, Saudi Arabia’s own electricity is becoming expensive. By one estimate, it’s as much as 25 cents a kilowatt-hour, at wholesale. Saudi Arabia gets all of its electricity from the oil field. Flared gas provides 45%, heavy fuel oil provides 13%, diesel; 22% and crude provides the remaining 20%. So as oil […]

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No More Gas Exploration in Israel?

Will the sea outside Israel be calm again? Hopes and dreams of a gas bonanza in Israel came to a sudden halt as shares came tumbling down after the Israeli Ministry of National Infrastructure under Minster Uzi Landau decided to cancel any further sale of oil and gas exploration rights, the Israeli business daily Globes […]

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Ormat Geothermal Reports $1.5 Million Loss

Despite low 2nd quarter earnings, Ormat has secured $350 million in loan guarantees to develop renewable, geothermal energy plants Israeli-founded geothermal power company  Ormat Technologies (NYSE: ORA) failed to meet the market’s expectations when the company presented its results for Q2: a $1.5 million loss was reported, resulting in a $0.03 loss per share. Most […]

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Solar Power To The People Of Abu Dhabi

Will Abu Dhabi’s citizens choose solar panels for their roofs when electricity prices go up? The residents of the United Arab Emirates capital, Abu Dhabi, will soon experience three major changes as the Abu Dhabi Distribution Company electricity supplier plans to install a meter for every apartment and a solar panel on every roof, according […]

Masdar CEO Admits An End To Oil

Masdar’s CEO acknowledges oil and gas are finite, yet the energy provider continues to exploit UAE’s natural resources to fund renewable projects with the same quest for fame and fortune that kept us glued to oil [image via GDS Digital] Given its celebrity status and our skepticism of its real sustainibility, we at Green Prophet […]

Givot's Premature Oil Production Near Rosh Ha'Ayin, Israel

Givot Olam Oil Exploration LP push to production without reservoir report or stable production rates. In the face of serious climate change, Israel’s Petroleum Law (1952) encourages haste where oil is concerned. We’ve seen it at Adullam, where IEI plans to rake up the earth for oil shale, and now we’re getting another taste of it […]