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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 398.52-4.4%Dec 29 4:00 PM EST
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To: Haim R. Branisteanu who wrote (94069)8/29/2012 3:06:21 PM
From: elmatador  Read Replies (1) of 218808
 
Russia supplies Israel oil: Israel imports 99% of its domestic consumption needs, or around 279 mmbd (thousand barrels per day).

In fact, Russia uses Israel as its way to export crude oil to other places. Oil leaves Russia via the Black Sea, into Israel's Mediterranean ports, then is piped to the southern end of the country at the Red Sea, where it's loaded onto more ships out to Asia. That way Russia gets a piece of the lucrative Indian and Chinese oil markets, previously owned almost completely by the Saudis.

Starting in 1968, the Israelis used a pipe called the "TIPline" to import Iranian oil from the Red Sea. But the shah was overthrown in 1979, and Iran shut off the tap. (These days, Israel lets the Russians use the TIPline to pump oil in the opposite direction.)
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