Article

2016-03-29 Israel-Palestine-Jordan

Israel's Game Changing Gas Discovery Dealt Another Blow

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Posted by Thing From Snowy Mountain 2016-03-29 00:00|| || Front Page|| [11128 views ] Top

#1 Oy vey! *facepalms*

Posted by Nguard 2016-03-29 00:11|| 2016-03-29 00:11|| Front Page Top

#2 Bribes not yet paid.

Posted by jvalentour 2016-03-29 00:41|| 2016-03-29 00:41|| Front Page Top

#3 “We have decided to cancel the gas deal because of the stability clause” that would have barred future governments from altering the deal, the High Court panel said, according to the Times of Israel.

More specifically, the High Court of Justice judges wrote, "The stability clause has been set without authority and its legality is repealed. This is because it has been passed in contradiction to the basic rules of administrative law in a way that prohibits restricting the considerations of the (Antitrust) Authority."

Granted, I'm not a lawyer, but this is bullshit of the highest order. Israeli courts invalidating contracts because the government can't alter the deal down the road? Since when does a party to a contract get to rewrite it once it's signed on a flimsy justification?

Posted by Raj 2016-03-29 01:56|| 2016-03-29 01:56|| Front Page Top

#4 A major utility holding company in the United States bought out several utilities in Great Britain when the Tories deregulated and privatized many publicly held companies. The US utility moved in, kicked out the dead wood, imposed their standards and methodologies, and began to turn a profit. Then Labor took over, unilaterally rewrote the contracts, and demanded that the utility pay the "true value" of the utilities (based on the value AFTER the improvements were put in place). The Utility got out of those markets with a loss, spun off all their foreign holdings (whose countries began to imitate Great Britain and rewrote the contracts), and now concentrates in their home territory. (The CEO resigned under a cloud. In his "honor" the company named a gas turbine peaking power plant after him)

The clause was put in because of the above experience. Apparently, the court wants to leave open the ability of future liberal/labor governments to claw back improved investments. Scr*w them!

Posted by ptah 2016-03-29 08:15|| 2016-03-29 08:15|| Front Page Top

#5 And here I thought they [Highs] did it just to be difficult.

Posted by g(r)omgoru 2016-03-29 08:48|| 2016-03-29 08:48|| Front Page Top

#6 Thank goodness *we* don't have the problem of our government acting against our national interests.

Posted by SteveS 2016-03-29 11:19|| 2016-03-29 11:19|| Front Page Top

#7 Fracking has changed the game. The world has plenty of natural gas from suppliers who you wouldn't mind doing business with. If Israel doesn't want to play, well, we don't need them.

Posted by Iblis 2016-03-29 11:25|| 2016-03-29 11:25|| Front Page Top

Posted by Lampedusa Creretch3679 2016-03-29 18:13|| 2016-03-29 18:13|| Front Page Top

#9 Will somebody rid us of this troll?

Posted by g(r)omgoru 2016-03-29 18:18|| 2016-03-29 18:18|| Front Page Top

#10 it wouldn't be too hard to come up with an alternative stability clause, say giving regulatory change authority under specified conditions

but who knows

Posted by lord garth 2016-03-29 18:25|| 2016-03-29 18:25|| Front Page Top

#11 Look, your lordship, [Israeli] High Court is just being obstructionist --- that's that they do.

Posted by g(r)omgoru 2016-03-29 18:29|| 2016-03-29 18:29|| Front Page Top

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