Monday, August 31, 2015

Enormous Natural Gas Field Found of the Coast of Egypt

Eni, an Italian energy company with a huge presence in Africa discovered an enormous natural gas field off the coast Egypt. The company signed an energy exploration agreement with Egypt's oil ministry in June. The deal, worth $2 billion allowed Eni to explore in Sinai, the Gulf of Suez, the Mediterranean and areas in the Nile Delta. The discovery represents an enormous economic opportunity for Egypt.

Currently ranked outside the top 25 in petroleum producing countries at number 29, the new Zohr field might bump Egypt into the top 10.

Initial reports suggest the 100 square mile area may contain 30 trillion cubic feet of natural gas, which equates to 5.5 billion barrels of oil equivalent.

Here at Collaborative Construction we view this as further vindication of our contention that Peak Oil is bunk. Combined with the lack of warming over the past 17 plus years - which the anthropogenic global warming theorists computer models cannot explain - this is good news for the billions of people that low cost energy will raise up out of poverty. Provided the political powder keg in the Middle East doesn't blow.

Meanwhile, I'll continue to pray for peace and prosperity in the region. This discovery, along with similar discoveries by Israel and others in the Mediterranean is good news as it distributes opportunity for growth in the region.

Welcome to the Golden Rule Alliance

James L. Salmon, Esq.
Collaborative Construction
300 Pike Street
Cincinnati, Ohio 45202
Summary of Services and James L. Salmon's CV

Office 513-721-5672
Fax 513-562-4388
Cell 512-630-4446

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