Israeli Occupation - Unrealized Oil and Natural Gas Potential for Palestinian People

[Donkees]

Geologists and natural resources economists have confirmed that the Occupied Palestinian Territory lies above sizeable reservoirs of oil and natural gas wealth, in Area C of the occupied West Bank and the Mediterranean coast off the Gaza Strip. However, occupation continues to prevent Palestinians from developing their energy fields so as to exploit and benefit from such assets. As such, the Palestinian people have been denied the benefits of using this natural resource to finance socioeconomic development and meet their need for energy. The accumulated losses are estimated in the billions of dollars. The longer Israel prevents Palestinians from exploiting their own oil and natural gas reserves, the greater the opportunity costs and the greater the total costs of the occupation borne by Palestinians become.

➙ This study identifies and assesses existing and potential Palestinian oil and natural gas reserves that could be exploited for the benefit of the Palestinian people, which Israel is either preventing them from exploiting or is exploiting without due regard for international law.

The exploitation of Palestinian natural resources, including oil and natural gas, by the occupying Power imposes on the Palestinian people enormous costs that continue to escalate as the occupation remains in effect. This is not only contrary to international law, but also in violation of natural justice and moral law. To date, the real and opportunity costs of the occupation exclusively in the area of oil and natural gas have accumulated to tens, if not hundreds, of billions of dollars.

This study concludes by emphasizing the need for further detailed economic, historical and legal research, guided by international law, to ascertain property rights related to oil and natural gas resources. It therefore recommends detailed studies to clearly establish the Palestinian people’s right to their separate natural resources, as well as their rightful share in the common resources collectively owned by several neighbouring States in the region, including Israel.

https://unctad.org/publication/economic-costs-israeli-occupation-palestinian-people-unrealized-oil-and-natural-gas

[Beastly Boy]

1. Egypt's national oil company had a proposal to develop the Gazan oil field on the table since 2022

https://www.reuters.com/business/energy/egypt-oil-min-says-framework-agreement-place-gaza-marine-field-2022-10-25/

Israel came on board in July.
https://www.reuters.com/business/energy/israel-gives-nod-gaza-marine-gas-development-wants-security-assurances-2023-06-18/

Apparently, the ruling Hamas regime in Gaza wasn't particularly interested in making Gaza or Palestine self-sufficient. Evidently, they had their priorities set for funding terrorism.

[Igel]

2. Yes, but how much money do you want to funnel

to a genocidal government?

We impose sanctions on Russia and imposed sanctions on Japan in the '30s, instead of arguing that they need even more income to fund their campaigns.

(Note that Hamas seems to have a fair amount of cash, even though they have no obvious source of revenue--and there's no way they embezzle or divert aid for the Gazan people. Truly, their god is beneficent in just causing money to appear in their accounts.)

[Beastly Boy]

6. Israel's presumed participation in the project is not unconditional.

Neither is Egypt's, I suspect.Both are likely to insist on strict rules for distributing the revenues, likely to be done exclusively through the Palestinian Authority, cutting Hamas out of this project one way or another.

[dembotoz]

3. nutty yahoo will ensure none of it reaches Palestinians

maybe it is just about the money

[SoFlaBro]

4. What are you talking about now? :rolleyes:

[dembotoz]

5. so nutty yahoo will not steal????