Former US President Jimmy Carter surprised many earlier this week when, after decades of antagonizing Israel, he published a letter of apology to Jews around the world for "stigmatizing" the Jewish state.
Carter's outbursts and accusations against Israel and his acceptance of Hamas and other terror groups are well known. His 2006 book "Palestine: Peace Not Apartheid," which laid the bulk of the blame for the lack of peace on Israel, was seen as the last nail in the coffin of a relationship that ostensibly began positively at Camp David in 1978.
So, Carter's letter of apology struck many as odd, and on Tuesday it was revealed there may indeed have been ulterior motives.
Just one day after Carter's letter was published, his grandson, Jason Carter, announced that he is planning a run for the Georgia state senate, with aspirations of a much grander political career. Having his grandfather tainted as a "Jew hater" would have greatly hindered that career.
Both Carter and his grandson denied that the apology had nothing to do with Jason's upcoming electoral campaign, but the timing and the absolute reversal of the former president's earlier sentiments have raised many questions.
An everlasting hope of finding significant amounts of oil in Israel may have been realized with the announcement Thursday that “significant quantities” of oil were found in a well in the area of Rosh HaAyin, a city located east of Tel Aviv on the western edge of Samaria.
The Givat Olam (Hebrew for “Hill of the World”) Exploration Limited Partnership informed the Tel Aviv Stock Exchange of the discovery, but added, “At this stage it is not possible to estimate the significance of these findings." The company’s stock more than doubled on the stock market, according to Globes.
The firm said the oil was found late Wednesday night and that “more than 60 percent gas was measured in the drill mud.” The commercial potential of the oil field will not be known until tests and calculations on production and processing can be completed.
The “Meged” well in the Rosh HaAyin area is one of the few that have been drilled outside of the Negev and Dead Sea area. Several studies by independent consultants have confirmed the potential for oil in the area, and previous drillings have encouraged the prospects of discovering enough oil and gas for commercial production.
Earlier this year, a huge gas field was discovered off the Mediterranean Coast. The gas is expected to be on line in three years and is anticipated to help Israel become self-sufficient in gas. It also is providing hundreds of high-paying jobs for developing the field and bringing the gas from the sea, off Hadera and Haifa, to the coastline.
If the Meged well proves commercially viable, it will further Israel’s longtime hope of being energy independent and is likely to strengthen the shekel against world currencies.
Accepting Christ Means Rejecting All Else
"The notion that we enter the Christian life by an act of acceptance is true, but that is not all the truth. There is much more to it than that. Christianity involves an acceptance and a repudiation, an affirmation and a denial. And this not only at the moment of conversion but continually thereafter day by day in all the battle of life till the great conflict is over and the Christian is home from the wars. To live a life wholly positive is, fortunately, impossible. Were any man able to do such a thing it could be only for a moment. Living positively would be like inhaling continuously without exhaling. Aside from its being impossible, it would be fatal. Exhalation is as necessary to life as inhalation. To accept Christ it is necessary that we reject whatever is contrary to Him. This is a fact often overlooked by eager evangelists bent on getting results. Like the salesman who talks up the good points of his product and conceals its disadvantages, the badly informed soulwinner stresses the positive side of things at the expense of the negative."
The Palestinian Authority this week informed the Clare College Choir from Cambridge, England that its performances in eastern Jerusalem and Bethlehem had been cancelled after it dared to perform last week with the Israeli Camerta Orchestra.
The ban came after the London-based Palestinian Solidarity Campaign circulated a petition against the choir over its "indifference to Palestinian suffering," evidenced by its willingness to perform with and for Israelis.
According to the boycott group, the Clare College Choir's appearance in Israel had helped to promote it "as a normal state," which the Palestinians and broader Arab world find unacceptable.
The choir's director, himself a professed supporter of the "Palestinian cause," said he was taken aback by the ban.
Canada’s Finance Minister Jim Flaherty said China, with the world’s largest currency reserves of $2.3 trillion, may be poised to buy Canadian dollars as it seeks to shield its reserves against the U.S. dollar’s decline.
“It does not surprise me that China and Russia would take greater positions in the Canadian dollar than they have previously,” Flaherty, 59, said during an interview in his office in Ottawa. “I would expect countries looking around the world to invest in market currencies that are reliable.”
The U.S. dollar has declined against all but one of the 16 most-active currencies this year, prompting major reserve- holding countries such as Russia and China to express concern about their U.S.-denominated investments. Russia last month said it will add Canadian dollars to its reserves to lower its dependence on the U.S. currency.
The Bank of Canada has warned “persistent strength” in the currency is a main risk for the economy, potentially acting as a “significant” drag on growth. Canada’s currency has gained 15 percent this year against the U.S. dollar. Chinese purchases of Canadian dollars would also cement growing economic links between the U.S.’s two largest trading partners.
Chinese Premier Wen Jiabao said in March that the nation was “worried” about the safety of its investment in U.S. debt, as a weakening dollar eroded the value of its reserves. China’s currency regulator said earlier this month it will “improve” its utilization of foreign-exchange reserves.
PetroChina
PetroChina Co., China’s largest oil company, this year bought its first stake in the Canadian oil sands, paying C$1.9 billion ($1.8 billion) for 60 percent of a project run by Athabasca Oil Sands Corp. Vancouver-based Teck Resources Ltd., Canada’s biggest base-metals producer, sold a 17 percent stake to China’s sovereign wealth fund for C$1.74 billion in July.
Prime Minister Stephen Harper, seeking to cut dependence on the U.S., traveled to China earlier this month to secure Asia’s second-biggest economy as a customer for oil, natural gas, uranium and other commodities.
“We know that China has been interested in things in Canada, whether it’s the bond market or the oil sands or oil companies,” said David Watt, senior currency strategist in Toronto at RBC Capital Markets, a unit of Canada’s biggest bank. “They’ve been sniffing around in the past. We know they’ve been interested.”
Watt said an amount equal to 2 percent of Asian reserves would mean about C$100 billion of currency flows into Canada.
“It would certainly be a positive backdrop for the currency,” Watt said.
Move to Parity
The Canadian currency gained 0.9 percent to C$1.0484 per U.S. dollar at 3:07 p.m. in Toronto, from C$1.0575 yesterday. One Canadian dollar purchases 95.38 U.S. cents.
Canada’s currency will appreciate to parity with the U.S. dollar by the middle of next year, Bank of Nova Scotia predicts. The median estimate of 38 analysts surveyed by Bloomberg News is for the currency to strengthen to C$1.04 in that period. The currency last traded on a one-for-one basis in July 2008.
Asked whether the Canadian dollar’s gain was a concern, Flaherty said the government is worried about “sudden” moves that don’t give companies “sufficient time to adjust.”
Canada’s currency has gained in part as investors bet an accelerating economic recovery will prompt the central bank to raise interest rates sooner than in the U.S. Canada also sits on the largest pool of oil reserves outside the Middle East and is a major exporter of other commodities such as gold. A Canadian commodity price index compiled by the Bank of Canada has advanced more than 20 percent this year.
Canada also has the lowest debt levels among the Group of Seven nations, making its currency a relatively safer investment, Flaherty said in the interview on Monday.
Six Knesset members from Kadima signed their initials on an agreement with Prime Minister Binyamin Netanyahu for leaving their party and joining his government, Channel 1 reported Wednesday night. According to the report, MK Eli Aflalo told Kadima chairwoman Tzipi Livni Tuesday that he intends to leave the party, either as a one-man faction or to join Likud.
The Prime Minister's associates reportedly promised the defectors several ministerial portfolios, as well as deputy-ministerships and the chair of a Knesset committee. Portfolios that were mentioned include the Minister for Jerusalem, Minister for the Negev and Galilee, Minister of the Broadcasting Authority, and Chairman of the Foreign Affairs and Defense Committee.