UN spurns Beirut on fixing sea border after Israel strikes gas
January 5, 2011, 12:03 PM (GMT+02:00)
The UN has turned down Lebanon's demand to intervene in delineating its sea border following Israel's discovery in the Mediterranean of the Leviathan gas well - billed as the world's biggest find in a decade. UN Spokesman Martin Nesirsky explained that UNIFIL's mandate applied to coastal waters, not to delineating maritime lines.
Cyprus responded to the exchange by announcing it had licensed the Texas-based US firm Noble Energy - partners with Israel's Delek Energy group in the Leviathan project - to explore a 1,250 square-mile block bordering on Israeli waters. Leviathan, 80 miles off the Israeli port of Haifa, is claimed to contain an estimated 16 trillion cubic feet of gas.
The precious metals bull is causing a short squeeze that will have Helicopter Ben's eyes to pop out of his frog looking head. That clown was actually saying he's not printing money.
True, he's creating fiat dollars out of bits and bytes using the computers at Goldman Sachs and JPMorgan Chase. Doing so will turn a gold and silver bull into a stampede, unless of course they can herd the lemmings into another dotcom or real estate bubble.