Here is some more excellent news to brighten up our week: last week it was reported that Israel Natural Gas Lines (INGL) had completed construction of a marine liquefied natural gas receiving buoy and would begin receiving natural gas immediately:
Energy officials at a launching ceremony on Thursday hailed the buoy as capable of relieving the country’s gas shortage until the onset of the Tamar reservoir this April, but also said the facility would remain a key component to Israel’s energy security future. The buoy, a Submerged Turret Loading Buoy , will serve as a connection point to the LNG gasification ships, which will unload natural gas directly to the maritime portion of the national transmission system at a volume of about 1.5 billion to 2 billion cubic meters per year.
In just its first weeks running, the government expects the buoy to save the Israeli energy market about NIS…
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Now that Egyptian President Morsi’s comments about Jews being “descendants of apes and pigs” have been picked up by the mainstream media, particularly the New York Times, perhaps they might want to follow up on the meeting of US senators with Morsi in Cairo, as reported by The Times of Israel:
At first, the Egyptian president defended himself by saying he did not harbor negative feelings about Judaism or Jewish people.
He then launched a diatribe about Israeli policies against the Palestinians, Senator Chris Coons (D-DE) told Foreign Policy. “He was attempting to explain himself … then he said, ‘Well, I think we all know that the media in the United States has made a big deal of this and we know the media of the United States is controlled by certain forces and they don’t view me favorably,’” Coons told the magazine’s The Cable…
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Four reasons America cannot be rescued
In Tuesday’s Financial Times, well-known columnist Martin Wolf argues that “America’s fiscal policy is not in crisis.” “The federal government,” he writes,“is not on the verge of bankruptcy.” “This,” Wolf admits, “is a highly controversial statement.”
Indeed, many analysts believe that the U.S. federal government is bankrupt. They include, among others, economists Jeffrey Hummel of San Jose State University and Laurence Kotlikoff of Boston University. As early as 2006, Kotlikoff wrote an article in the journal of the Federal Reserve Bank of St. Louis, asking the question “Is the United States Bankrupt,” to which he answered affirmatively.
Even official government agencies such as the Congressional Budget Office (CBO) and the Government Accountability Office (GAO), which have each produced scenarios of their own, are less optimistic than the Financial Times columnist. Besides their optimistic scenarios, which they admit are themselves unsustainable, each agency produces…
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