Israel Has Adequate Supplies of Oil
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Israel Has Adequate Supplies of Oil

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Israel, by dint of careful planning and preparations over the last decade, has adequate supplies of oil, but the price of energy “will be much more expensive than hitherto,” Deputy Finance Minister Tzvi Dienstein said here. Dienstein, who is in charge of the nation’s fuel supplies, spoke at the opening session of the fourth seminar on oil sponsored by the Israel Oil Institute.

The oil supply to Israel is continuing from various sources, he said. “We have the means to transport the crude oil, refine it and supply the customers.” Nevertheless, Dr. Dienstein said, Israel will make an all-out effort to increase oil prospecting and to find alternative energy sources.

He said the satisfactory oil situation in the country today was the result of increasing the size of Israel’s tanker fleet, building a network of pipelines and the construction of more refineries and storage facilities. He said the new oil refineries at Ashdod, which went into operation just before the Yom Kippur War, stood up well during the crisis and with the older refineries in Haifa provided the products essential to the war effort.

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