RE: Today's highlights21 Feb 2025 16:34
I believe this is why Trump wants to take possession of Palestine:
Geologists and resources economists have confirmed that the occupied Palestinian territory (oPt) lies above sizeable reservoirs of oil and natural gas wealth, in Area C of the West Bank and the Mediterranean coast off the Gaza Strip, according to a recent UNCTAD study.
New discoveries of natural gas in the Levant Basin are in the range of 122 trillion cubic foot while recoverable oil is estimated at 1.7 billion barrels, according to the study, entitled “The Economic Cost of Occupation for the Palestinian People: The Unrealized Oil and Natural Gas Potential.”
This offers an opportunity to distribute and share about US$524 billion among the different parties in the region and promote peace and cooperation among old belligerents, the study notes.
These funds could finance socioeconomic development in the oPt as part of the United Nations 2030 Agenda for Sustainable Development.
However, so far the Palestinian people have been prohibited from exploiting the oil and gas reserves in their own land and water to meet their energy needs and generate fiscal and export revenues.
This increases both the opportunity costs and the total costs borne by the Palestinian people as a result of occupation, the study states.