An old Israeli joke describes how God led Moses through the desert to the Holy Land for 40 years, through hardships and dangers, only to lead the Israelite nation to the only spot in the Middle East where there isn’t a drop of oil.
Two thousand years later, things have remained pretty much the same. Today, Israel is considered an “island-state”, with over 99% of its capacity produced from imported fossil fuels.
In alignment with global trends, Israel has experienced a recent surge of new ventures in the field, comprising commercial, academic and regulatory initiatives. Although a pioneer and home to world leaders in the RE field, the post-80s low oil pricing era left the Israeli RE industry relatively dormant in comparison with its blossoming high-tech activity.