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September 2, 2015 6:11 am

Egyptian Gas Find Leads to Stock Declines, Political Fighting in Israel

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A gas rig off Israel's coast. Photo: YouTube screenshot.

A gas rig off Israel’s coast. Photo: YouTube screenshot.

AP – Egypt’s new natural gas bonanza is causing an uproar in Israel, with energy stocks plummeting and recriminations over indecisiveness and infighting that have delayed production from the country’s own gas fields.

The government is currently struggling to get parliament to approve its natural gas business plan, but observers fear Israel may need to reassess everything now that Egypt, which had been cast as both an export destination and a partner, may have found its own independent solution.

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  • Eric R.

    If Israel’s leftist media and politicians had not stood in the way of the development of Leviathan for three years, maybe the country would not be facing this dilemma.

    Just as here in America, the leftists in Israel seemed determined to undermine and destroy their own country.

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