Business
Steinitz: Natural gas profits belong to people
Roni Sofer
Published: 07.06.10, 09:04
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14 Talkbacks for this article
1. ...because the treasury gives out money to the people
ben yaacov ,   herzliya il   (06.07.10)
Oh wait no they don't. The government, no matter who wins, uses the state treasury to bribe other parties to join in corrupt coalitions.
2. Natural gas profits belong to the PALESTINIAN people
Sayid ,   Sweden   (06.07.10)
You thieves.
3. I agree that the citizens of Israel
Sagi   (06.07.10)
should collectively benefit from royalties collected from these natural resources. I stress "collectively" and sincerely hope that not only certain groups and sections of society should benefit, but all of society. I also hope that corruption will be avoided. I hope, but I have my doubts.
4. Dumb move totally dumb as the Minister is dumb
Al   (06.07.10)
Tax these guys and they take their trade elsewhere. YOu need them They have the technology and . you have dip. YOu need to encourage them by limiting your take and having them explore for more gas and oil. Its time Israel become energy independent. The Minister clearly shows he hasnt got a clue about economics and reality.
5. He's right - natural resources belong to us ALL
Israel   (06.07.10)
6. #2 Did the Pals find it and drill and invest
(06.07.10)
NO THEY DID NOT! SO THEY WON'T GET JACK-SHIT FROM IT!
7. #4 Al is like a mosquito - small, annoying and won't go away
Talula ,   Israel   (06.07.10)
8. #2, Wake up call
Jason ,   Israel   (06.07.10)
El axsa mosque visitation fees also belong to the Jewish people.
9. DONT DO ANOTHER BARAK
zionist forever   (06.07.10)
As PM under pressure from Tony Blair Barak agreed that Israel would give sole rights to a $4 billion gas field in Gaza discovered and owned by Israel. Barak was nice enough to give $4 billion worth of gas to the PA FREE OF CHARGE. What a nice generous man Barak is. The worry we now have is when the arabs start trying to claim their share of the new fields. Lebanon has already placed a claim to the gas in the Tamar field and has threatened to go to the UN over it. If there is big money to be made you can be the arabs won't let it pass by. First we will have Lebanon, then probably Syria and the palestinians will all come looking for a share and dreaming up some reason why they are legally entitled to it. When you have Obama in the White House it does become a real worry. All the arabs need to do is go to Obama and say Israels claim that it owns the whole field is an obstacle to peace and the US must do something if it wants peace and Obama will jump. There is also the risk if Lebanon starts making alot of noise over this issue saying they have a legal claim then we may have Hizbollah carrying out attacks in the name of trying to get Lebanon the gas that it rightfully owns. As for the tax royalties issue. The government should defaintly get more in tax revenues when there is so much money at stake although the government should not demand to much. Instead of a straight tax increase to create as few problems as possible make it a phased rise over maybe 5 year. The eventual tax percentage will be set in advance but the companies will pay slightly more over a number of years. That will allow them to pocket more profits so its more about hostility limitation.
10. Royalties
Scotchman ,   Australia   (06.08.10)
We have a similar problem here with the Government trying to retrospectively raise taxes on the profits of mining companies. The result is that mining companies are halting projects. This is madness. Privateers are the ones who take all the financial risks. Who will want to invest in further exploration and development if they can't get a decent return on their investment because of unforeseen tax hikes by greedy governments.
11. Talula malula I love you too long time 5 dolla
Al   (06.08.10)
12. UN escrow fund
graczek ,   Maryland, USA   (06.08.10)
Any profits from the Leviathan Gas Field should be placed in a "lockbox" UN escrow fund, to be used in the future to rebuild the Holy Land of Palestine after the near-future demise of the illegitimate state if Israel. The ZIonist government or people have no title or right to one penny's worth of the proceeds of this gas production.
13. # 2 Sayid
J.K. ,   Brooklyn USA   (06.08.10)
You shamless layer !!!
14. There is reason oil/gas companies some of riches in world
Bloodyscot ,   Dallas, Texas   (06.09.10)
With new tech odds of hit oil or gas now days is very high, unlike in the past when wildcatting was huge gamble. Remember consortium includes some Israeli partners who will get very rich off of these leases while foreign companies do most if not all the work.
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