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Thread: Egypt to Renegotiate Secret Mubarak Gas Deals with Israel

  1. #1
    Join Date
    Feb 2010
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    Default Egypt to Renegotiate Secret Mubarak Gas Deals with Israel

    This is interesting for all kinds of reasons.

    Egypt supplies Israel with 40% of its gas.

    It supplies below market price in deals that were not approved by the Parliament, made behind closed doors under the Mubarak regime.

    Given the amount of military funding put into the Mubarak regime by the US, you could look at this as a back door subsidy to Israel.

    The Mubarak regime was reputedly rotten with corruption and this was one of the factors driving the revolutionary movement.

    If Egypt succeeds in refixing these contracts, it is an interesting precedent for Ireland and any other State where gas and oil companies seem to have got extraordinarily favourable deals.

    It will also have implications for the Israeli economy.

    http://www.maannews.net/eng/ViewDetails.aspx?ID=378619

  2. #2
    Join Date
    Aug 2010
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    Meath
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    Default Re: Egypt to Renegotiate Secret Mubarak Gas Deals with Israel

    Quote Originally Posted by C. Flower View Post
    This is interesting for all kinds of reasons.

    Egypt supplies Israel with 40% of its gas.

    It supplies below market price in deals that were not approved by the Parliament, made behind closed doors under the Mubarak regime.

    Given the amount of military funding put into the Mubarak regime by the US, you could look at this as a back door subsidy to Israel.

    The Mubarak regime was reputedly rotten with corruption and this was one of the factors driving the revolutionary movement.

    If Egypt succeeds in refixing these contracts, it is an interesting precedent for Ireland and any other State where gas and oil companies seem to have got extraordinarily favourable deals.

    It will also have implications for the Israeli economy.

    http://www.maannews.net/eng/ViewDetails.aspx?ID=378619
    Ecuador succeeded after defaulting in 2008 so why not?? They grew at nearly 6% last year!!! Last time we grew at that rate(ignoring the underlying factors for a sec) was 2006 when 85'000 jobs were created. The IMF always goes into a country where they can steal the output by making us all more american. For example, stealing Iceland's aluminium production capacity through geothermal energy. Theres no lengths they wouldnt go through. Ireland will go down as the biggest, most unresisted grand theft auto in Financial and world economic history.

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