Bethel Finance: Israel seeks US support for ending oil dependency

www.bethelfinanace.com

National Economics Council chairman Prof. Eugene Kandel is trying to drum up US support for a plan for reducing oil dependency. Last week, he held a series of meetings in Washington to present Prime Minister Benjamin Netanyahu's plan, approved by the cabinet in January, to develop oil alternatives, including biofuels, synthetics, electric cars, and energy efficient vehicles.

The Americans, who have their own plans, expressed interest in the Israeli plan, which is based on international cooperation. "The Americans see eye-to-eye with us on this," said Kandel, who believes that there are grounds for cooperation in this field. "There is a complete meeting of interests, because the objective of the Israeli plan is to reduce dependency of the US and the whole world, not just by Israel."

Kandel added, "It is very important for us that the US apply this regulation, because it will change the whole world. Transportation's dependency on oil is because our vehicles run on a single kind of fuel, and converting them to several kinds of fuel will significantly lower dependence." He noted that President Barack Obama has called on the US to serve as an example.

Kandel said, "Israel has begun to go out and seek interfaces with similar ventures in an attempt to focus them on this objective. We've met with a great many people, and explained that the focus should be put on this issue. This isn't a comprehensive energy strategy, or that protecting the environment is less important, but compared with all other issues, reducing oil dependency should be given priority. This is an existential matter for us and for the US in the short term."