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{{Short description|American energy company}}
{{Infobox company
{{Infobox company
| name = Genie Energy
| name = Genie Energy Ltd.
| logo = [[File:Genie Energy logo.png|frameless]]
| logo = File:Genie Energy Logo.jpg
| caption =
| caption =
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{New York Stock Exchange|GNE}}
| traded_as = {{New York Stock Exchange|GNE}} (Class B)<br />[[Russell Microcap Index]] component
| industry = [[Oil and gas industry]]<br />[[Electricity]]
| fate =
| predecessor =
| fate =
| successor =
| predecessor =
| successor =
| foundation = <!-- {{Start date|YYYY|MM|DD}} -->
| foundation = <!-- {{Start date|YYYY|MM|DD}} -->
| founder =
| founder = [[Howard Jonas]]
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| location_city = [[Newark, New Jersey]]
| location_city = [[Newark, New Jersey]]
| locations =
| area_served =
| key_people = Michael Stein (CEO)<br />Avi Goldin (CFO)<br />Geoff Rochwarger (Vice Chairman)<br />Michael Stein (COO and CEO of Genie Retail Energy)
| products =
| services =
| revenue = {{US$|280.30 million|link=yes}} (2018)<ref name=AR18>{{cite web|title=Annual Report 2018|url=https://b2icontent.irpass.com/2100/176963.pdf|publisher=Genie Energy|access-date=2019-05-05}}</ref>
| operating_income = {{US$|9.02 million}} (2018)<ref name=AR18/>
| net_income = {{US$|22.78 million}} (2018)<ref name=AR18/>
| assets = {{US$|146.86 million}} (2018)<ref name=AR18/>
| equity = {{US$|92.66 million}} (2018)<ref name=AR18/>
| owner =
| num_employees =
| parent =
| divisions =
| subsid = Genie Retail Energy<br />Genie Oil and Gas
| footnotes =
| intl =
| location_country = United States
| location_country = United States
| homepage = {{URL|http://www.genie.com}}
| locations =
| area_served =
| key_people = [[Howard Jonas]] (Founder, Chairman and CEO)<br/>[[Avi Goldin]] (CFO)<br />[[Geoff Rochwarger]] (Vice Chairman)
| industry = [[Oil and gas industry]]<br/>[[Electricity]]
| products =
| services =
| revenue =
| operating_income =
| net_income =
| assets =
| equity =
| owner =
| num_employees =
| parent =
| divisions =
| subsid = Genie Retail Energy<br/>Genie Oil and Gas
| homepage = {{URL|http://www.genie.com}}
| footnotes =
| intl =
}}
}}
'''Genie Energy Ltd.''' is an American energy company headquartered in [[Newark, New Jersey]]. It is a holding company comprising Genie Retail Energy, a retail energy provider in the United States, and Genie Oil and Gas, which develops [[petroleum|conventional oil]] and [[oil shale]] projects in the [[United States]], [[Mongolia]], [[Israel]] and in the occupied [[Golan Heights]].
'''Genie Energy Ltd.''' is an American energy company headquartered in [[Newark, New Jersey]]. It is a holding company comprising Genie Retail Energy, Genie Retail Energy International, Genie Energy Services, and Genie Energy Oil and Gas. Michael Stein is the Chief Executive Officer, Genie Energy Ltd.<ref>{{cite news|url=https://www.bloomberg.com/profile/person/19155107|title=Michael Stein Chief Executive Officer, Genie Energy Ltd profile|publisher=[[Bloomberg News]]|access-date=2022-03-20}}</ref>


Genie was part of [[IDT Corporation]] but was spun off on October 31, 2011, at which point Class B common stock of Genie Energy Ltd. began trading on the [[New York Stock Exchange|NYSE]] under the ticker symbol "GNE".
In 2004, seeking to diversify, IDT Telecom’s Founder, Chairman and CEO, Howard Jonas, launched its first Retail Energy Provider or “REP” and enrolled its first energy supply customers. Then, in October, 2011, Genie Energy Ltd. (NYSE:GNE), was spun-off from IDT Corporation as an independent public company, at which point Class B common stock of Genie Energy Ltd. began trading on the NYSE under the ticker symbol "GNE".
<ref name=BusinessWire>
{{cite web
| publisher = [[Business Wire]]
| title = Genie Energy Begins Trading on NYSE
| url= http://www.businesswire.com/news/home/20111031006500/en/Genie-Energy-Begins-Trading-NYSE
| date = 2011-10-31
| accessdate=2011-12-07}}
</ref>


Genie's founder and chairman is Howard Jonas. Michael Stein is the company's Chief Executive Officer of Genie Energy and Chief Executive Officer of Genie Retail Energy. Avi Goldin serves as the company's CFO.
Genie's founder, chairman, controlling shareholder and CEO is [[Howard Jonas]]. Avi Goldin serves as the company's CFO and Geoffrey Rochwarger serves as Vice Chairman. The president of its Israeli subsidiary is [[Effie Eitam]]. Genie Energy's Strategic advisory board is composed of: [[Dick Cheney]] (former vice president of the United States), [[Jacob Rothschild, 4th Baron Rothschild]], [[Rupert Murdoch]] (media mogul and chairman of [[News Corp]]), [[R. James Woolsey, Jr.|James Woolsey]] (former CIA director), [[Lawrence Summers|Larry Summers]] (former head of the US Treasury), and [[Bill Richardson]], an ex-ambassador to the United Nations and energy secretary.<ref name="Black gold under the Golan">{{cite news|title=Black gold under the Golan|url=http://www.economist.com/news/middle-east-and-africa/21677597-geologists-israel-think-they-have-found-oilin-very-tricky-territory-black-gold|accessdate=8 November 2015|work=[[The Economist]]|date=7 November 2015}}</ref>

The president of its Israeli subsidiary is [[Effie Eitam]]. Genie Energy's Strategic advisory board is composed of: [[Dick Cheney]] since 2009 (former [[vice president of the United States]]),<ref>{{cite news |url=https://www.intelligenceonline.com/corporate-intelligence_the-red-line/2013/02/27/oil-in-the-levant-attracts-intermediaries,107946841-art |title=Oil in the Levant attracts intermediaries: Impending oil exploration in the strategic Golan Heights and off the coast of Lebanon has inspired a number of ex-political figures to hone their advisory skills. |work=[[Intelligence Online]] |date=27 February 2013 |access-date=5 January 2021 |archive-date=24 May 2021 |url-status=live |archive-url=https://web.archive.org/web/20210524084350/https://www.intelligenceonline.com/corporate-intelligence_the-red-line/2013/02/27/oil-in-the-levant-attracts-intermediaries,107946841-art}}</ref> [[Rupert Murdoch]] (media mogul and chairman of [[News Corp (2013–present)|News Corp]]), [[R. James Woolsey, Jr.|James Woolsey]] (former [[CIA director]]), [[Lawrence Summers|Larry Summers]] (former head of the [[US Treasury]]), [[Michael Steinhardt]], [[Jacob Rothschild]],<ref name="businesswireNov2010">{{cite news| publisher=[[Business Wire]]|title=Business and Financial Leaders Lord Rothschild and Rupert Murdoch Invest in Genie Oil & Gas| url=http://www.businesswire.com/news/home/20101115007704/en/Business-Financial-Leaders-Lord-Rothschild-Rupert-Murdoch| date=2010-11-15|access-date=2016-12-19}}</ref><ref name="Black gold under the Golan">{{cite news |date=7 November 2015 |title=Black gold under the Golan |url=https://www.economist.com/news/middle-east-and-africa/21677597-geologists-israel-think-they-have-found-oilin-very-tricky-territory-black-gold |access-date=10 December 2016 |newspaper=[[The Economist]]}}</ref> and [[Mary Landrieu]], former United States Senator from [[Louisiana]].

In 2013, IDT Energy, Inc., a subsidiary of Genie Energy, acquired both Dallas-based Diversegy, LLC a commercial energy advisory and its network marketing channel, Epiq Energy. They are now wholly owned subsidiaries of Genie Energy Ltd.<ref name="SWA Legal">{{cite web|title=SWA advises IDT Energy on its Acquisition of Diversegy, LLC|url=http://swalegal.com/media-post/swa-advised-idt-energy-acquisition-diversegy-llc/|publisher=SWA Legal|access-date=4 July 2017}}</ref>


==Genie Retail Energy==
==Genie Retail Energy==
{{expand section|date=January 2016}}
{{expand section|date=January 2016}}
'''Genie Retail Energy (GRE)''' comprises the company’s domestic electricity and natural gas supply companies. Commonly referred to as “Retail Energy Providers” or “REPs”, these companies offer traditional and renewable/green energy supply options to residential and small/medium commercial clients throughout deregulated energy states in the United States. GRE companies purchase electricity and natural gas in the wholesale markets which it resells to residential and small business customers in New York, New Jersey, New Hampshire, Pennsylvania, Connecticut, Ohio, Rhode Island, Illinois, Massachusetts, Maine, Delaware, Texas, Maryland, and Washington, DC. Commercial natural gas supply customers are also served in the state of Florida. These companies offer a variety of products and services, including fixed rate and variable rate energy supply plans, traditional and green electricity options, and clean, [[carbon offset]] natural gas programs. Like other REP's, GRE companies compete against incumbent electric and gas utilities as well as over 100 or more other REPs.
IDT Energy, founded in New York State in 2004, is a deregulated energy provider, or retail energy provider (REP), that resells [[electricity]] and [[natural gas]] to residential and small business customers in [[New York]], [[New Jersey]], [[Pennsylvania]], [[Illinois]], [[Maryland]] and [[Washington, DC]] <ref>http://genie.com/investors/quarterly-earnings/ for earnings release "Genie Energy Reports First Quarter 2014 Results".</ref> Like other REP's IDT Energy competes against incumbent electric and gas utilities as well as over 100 other REPs.<ref>[http://documents.dps.state.ny.us/public/common/EscoSearch.aspx New York Public Service Commission]</ref> Unlike many of its competitors, nearly all of IDT's customers are on variable rate plans (rather than long term fixed price contracts) and can change supplier at any time.<ref>[http://b2i.api.edgar-online.com/EFX_dll/EdgarPro.dll?FetchFilingConvPDF1?SessionID=QceUFyvAnOV8o-9&ID=7521931 10-k], IDT Corp, July 31, 2011</ref>

In November 2016, Genie Energy acquired Retail Energy Holdings, LLC. (REH), and added REH's brand, Town Square Energy, and meters to Genie Retail Energy's portfolio.<ref>{{Cite news|url=http://www.prnewswire.com/news-releases/genie-retail-energy-acquires-retail-energy-holdings-llc-300357362.html|title=Genie Retail Energy Acquires Retail Energy Holdings, LLC|work=Genie Energy Press Release}}</ref> In August 2017, Genie Energy announced a joint venture to enter the retail energy market and begin customer acquisition in the United Kingdom.<ref>{{Cite news|url=http://www.prnewswire.com/news-releases/genie-energy-launches-jv-to-pursue-uk-retail-energy-market-300498478.html|title=Genie Energy Launches JV to Pursue UK Retail Energy Market|date=August 2, 2017|work=Genie Energy press release}}</ref> Also in August 2017, Genie Retail Energy acquired Mirabito Natural Gas, a Ft. Lauderdale, Florida-based natural gas supplier to commercial customers.<ref>{{Cite web|url=http://www.youroilandgasnews.com/genie+energy+acquires+florida-based+commercial+natural+gas+supplier_144420.html|title=Genie Energy acquires Florida-based commercial natural gas supplier|date=August 15, 2017|website=Your Oil and Gas News|archive-url=https://web.archive.org/web/20170912233724/http://www.youroilandgasnews.com/genie+energy+acquires+florida-based+commercial+natural+gas+supplier_144420.html|archive-date=September 12, 2017|url-status=dead}}</ref>

In January 2019, Genie Retail Energy acquired a majority stake in Lumo Energia, a Finnish supplier of renewable electricity,<ref name="renewablenow271118">
{{cite news
| work = Renewable Now
| title = Genie Energy acquires Finnish renewable power supplier Lumo Energia
| url = https://renewablesnow.com/news/genie-energy-acquires-finnish-renewable-power-supplier-lumo-energia-638636/
| date = 2019-01-07
| access-date = 2019-03-23}}
</ref> and earlier this year launched Genie Energy Japan, offering customers a variety of high value electricity supply products in the dynamic Japanese retail market.

In 2022 Lumo unilaterally terminated fixed term and fixed price electricity deals of c. 8,000 consumers, thus causing financial damages of even thousands of Euros to each customer. Lumo offered 2 cent/kWh compensation, equaling few million Euros, while selling electricity derivative assets for €30 million. Finnish consumer protection authority regarded this compensation as inadequate.<ref>{{Cite web |date=2022-09-11 |title=Sähkö {{!}} Lumo Energia kaatui, ja nyt entisille asiakkaille tulee jopa tuhansien eurojen lisälasku – "Naurettava", kuvaa asiakas yhtiön reaktiota |url=https://www.hs.fi/talous/art-2000009043831.html |access-date=2022-10-25 |website=Helsingin Sanomat |language=fi}}</ref> <ref>{{Cite web |date=2022-10-21 |title=Lumo Energia lopetti korvausneuvottelut kuluttaja-asiamiehen pyydettyä olennaisia tietoja yhtiön taloustilanteesta |url=https://www.kkv.fi/ajankohtaista/tiedotteet/lumo-energia-lopetti-korvausneuvottelut-kuluttaja-asiamiehen-pyydettya-olennaisia-tietoja-yhtion-taloustilanteesta/ |access-date=2022-10-25 |website=Kilpailu- ja kuluttajavirasto |language=fi}}</ref>


==Genie Oil and Gas==
==Genie Oil and Gas==
Genie Oil and Gas (GOGAS) explore conventional oil in the [[Golan Heights]] through Afek Oil and Gas, and is or has been involved in the
Genie Oil and Gas (GOGAS) explored for conventional oil in the [[Israeli-occupied territories|Israeli-occupied]] [[Golan Heights]] through its Afek Oil and Gas subsidiary, and pursued oil shale projects through [[American Shale Oil]] (AMSO), Israel Energy Initiatives (IEI) and Genie Energy Mongolia. AMSO, IEI, and Genie Energy Mongolia are no longer active. 89% of GOGAS was owned by Genie Energy while Jacob Rothschild, Michael Steinhardt and Rupert Murdoch among others held minority interests.<ref name=business>
oil shale projects through [[American Shale Oil]] (AMSO), Israel Energy Initiatives (IEI) and Genie Energy Mongolia. 89% of GOGAS is owned by Genie Energy while Jacob Rothschild, Michael Steinhardt and Rupert Murdoch among others hold minority interests.<ref name=business>
{{cite press release
{{cite press release
| publisher = [[IDT Corporation]]
| publisher = [[IDT Corporation]]
Line 59: Line 68:
| url= http://www.idt.net/about/press/story.aspx?id=41777
| url= http://www.idt.net/about/press/story.aspx?id=41777
| date = 2010-11-15
| date = 2010-11-15
| accessdate=2011-10-06
| access-date=2011-10-06
| archive-url = http://web.archive.org/web/20120402202719/http://www.idt.net/about/press/story.aspx?id=41777
| archive-url = https://web.archive.org/web/20120402202719/http://www.idt.net/about/press/story.aspx?id=41777
| archive-date = 2012-04-02
| archive-date = 2012-04-02
| dead-url = yes}}
| url-status = dead}}
</ref><ref name=business2>
</ref><ref name=business2>
{{cite press release
{{cite press release
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| url= http://www.idt.net/about/press/story.aspx?id=37513
| url= http://www.idt.net/about/press/story.aspx?id=37513
| date = 2010-04-19
| date = 2010-04-19
| accessdate=2011-10-06
| access-date=2011-10-06
| archive-url = http://web.archive.org/web/20120402202727/http://www.idt.net/about/press/story.aspx?id=37513
| archive-url = https://web.archive.org/web/20120402202727/http://www.idt.net/about/press/story.aspx?id=37513
| archive-date = 2012-04-02
| archive-date = 2012-04-02
| dead-url = yes}}
| url-status = dead}}
</ref><ref name=jp221110>
</ref><ref name=jp221110>
{{cite news
{{cite news
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| url= http://www.jpost.com/Business/Globes/Article.aspx?id=196217
| url= http://www.jpost.com/Business/Globes/Article.aspx?id=196217
| date = 2010-11-22
| date = 2010-11-22
| accessdate=2011-10-06}}
| access-date=2011-10-06}}
</ref>
</ref>


===Afek Oil and Gas===
===Afek Oil and Gas===
In February 2013, Israeli authorities awarded Afek Oil and Gas an exclusive 36-month petroleum exploration license to a {{convert|153|sqmi|adj=on}} plot in the [[Golan Heights]], which the [[United Nations Security Council Resolution 242|UN regognizes to be Syrian]] territory.<ref name='Kelley01'>{{cite news | first = Michael | last = Kelley | title = Israel Grants First Golan Heights Oil Drilling License To Dick Cheney-Linked Company | date = February 22, 2013 | url = http://www.businessinsider.com/israel-grants-golan-heights-oil-license-2013-2 | work = [[Business Insider]] | accessdate = 31 August 2013}}</ref><ref name=jpost1>
In February 2013, Israeli authorities awarded Afek Oil and Gas an exclusive 36-month petroleum exploration license to a {{convert|153|sqmi|adj=on}} plot in the [[Israeli-occupied territories|Israeli-occupied]] [[Golan Heights]], which the [[United Nations Security Council Resolution 242|UN recognizes to be Syrian]] territory.<ref name="Kelley01">{{cite news | first = Michael | last = Kelley | title = Israel Grants First Golan Heights Oil Drilling License To Dick Cheney-Linked Company | date = February 22, 2013 | url = http://www.businessinsider.com/israel-grants-golan-heights-oil-license-2013-2 | work = [[Business Insider]] | access-date = 31 August 2013}}</ref><ref name=jpost1>
{{cite news
{{cite news
| newspaper = [[The Jerusalem Post]]
| newspaper = [[The Jerusalem Post]]
Line 90: Line 99:
| url= http://www.jpost.com/Enviro-Tech/Israel-approves-drilling-for-oil-in-Golan-Heights
| url= http://www.jpost.com/Enviro-Tech/Israel-approves-drilling-for-oil-in-Golan-Heights
| date = 2013-02-02
| date = 2013-02-02
| accessdate=2014-05-20}}
| access-date=2014-05-20}}
</ref><ref name=globes200213>{{cite news|url=http://www.globes.co.il/serveen/globes/docview.asp?did=1000824062&fid=1725 |last=Barkat |first=Amiram |title=Israel awards first Golan oil drilling license |accessdate=22 February 2013 |newspaper=[[Globes]] |date=20 February 2013 }}</ref><ref name=jta210213>{{cite news|title=N.J. firm wins original rights to drill in Golan Heights|url=http://www.jta.org/news/article/2013/02/21/3120221/jersey-firm-wins-rights-to-drill-in-golan-heights|accessdate=22 February 2013|newspaper=[[Jewish Telegraphic Agency|JTA]]|date=21 February 2013}}</ref> Afek subsequently conducted above-ground geophysical tests and based on its preliminary analysis, has applied for a ten well exploratory drilling program.<ref name=genie1-14>
</ref><ref name=globes200213>{{cite news|url=http://www.globes.co.il/serveen/globes/docview.asp?did=1000824062&fid=1725 |last=Barkat |first=Amiram |title=Israel awards first Golan oil drilling license |access-date=22 February 2013 |newspaper=[[Globes (newspaper)|Globes]] |date=20 February 2013 }}</ref><ref name=jta210213>{{cite news|title=N.J. firm wins original rights to drill in Golan Heights|url=http://www.jta.org/news/article/2013/02/21/3120221/jersey-firm-wins-rights-to-drill-in-golan-heights|access-date=22 February 2013|newspaper=[[Jewish Telegraphic Agency|JTA]]|date=21 February 2013|url-status=dead|archive-url=https://archive.today/20130415044823/http://www.jta.org/news/article/2013/02/21/3120221/jersey-firm-wins-rights-to-drill-in-golan-heights|archive-date=15 April 2013}}</ref> Afek subsequently conducted above-ground geophysical tests and based on its preliminary analysis, has applied for a ten well exploratory drilling program.<ref name="genie1-14">
{{cite press release
{{cite press release
| publisher = Genie Energy
|publisher=Genie Energy
| title = Genie Energy Reports First Quarter 2014 Results
|title=Genie Energy Reports First Quarter 2014 Results
| url= http://b2icontent.irpass.cc/2100%2F154472.pdf?AWSAccessKeyId=1Y51NDPSZK99KT3F8VG2&Expires=1449003228&Signature=gZFbz%2BSaN3PLTjWzjQSgEDnJlJM%3D
|url=http://b2icontent.irpass.cc/2100%2F154472.pdf?AWSAccessKeyId=1Y51NDPSZK99KT3F8VG2&Expires=1449003228&Signature=gZFbz%2BSaN3PLTjWzjQSgEDnJlJM%3D
| format = PDF
|format=PDF
| date = 2014-05-07
|date=2014-05-07
| accessdate=2015-12-01}}
|access-date=2015-12-01
}}{{dead link|date=January 2017 |bot=InternetArchiveBot |fix-attempted=yes }}
</ref> South of [[Katzrin]] in the southern Golan Heights in 2015, Afek discovered a substantial amount of oil and natural gas reserves that could make Israel energy self-sufficient (albeit with hydrocarbons obtained in Syrian territory).<ref name=GraeberReserves>{{cite web | last = Graeber | first = Daniel J | title = Israel upbeat on Golan oil potential: Israeli company estimates reserve column 10 times larger than global average | url = http://www.upi.com/Business_News/Energy-Industry/2015/10/07/Israel-upbeat-on-Golan-oil-potential/9401444212278/ | publisher = [[United Press International|UPI]] | date = 7 October 2015 | accessdate = 26 October 2015}}</ref><ref name=Globes>{{cite web | last = Globes correspondent | title = Huge oil discovery on Golan Heights: Estimates are that the amount of oil found will make Israel self sufficient for very many years to come | url = http://www.globes.co.il/en/article.aspx?did=1001071698&from=iglobes | publisher = [[Globes]] | date = 7 October 2015 | accessdate = 26 October 2015}}</ref><ref name=Graeber2>{{cite web | last = Graeber | first = Daniel J | title = Major reserve discovery confirmed in the southern Golan Heights: Leadership of company behind the find seen as close to Israeli Prime Minister Netanyahu | url = http://www.upi.com/Business_News/Energy-Industry/2015/10/09/Major-reserve-discovery-confirmed-in-Golan-Heights/6461444389373/ | publisher = UPI | date = 9 October 2015 | accessdate = 26 October 2015}}</ref> The company drilled three exploratory wells: in May, Ness-5, just northwest of the [[Avnei Eitan]] and [[Nov, Golan Heights|Nov moshavim]] and south of [[Natur, Golan Heights|Kibbutz Natur]] and the town of Katzrin; in July, Ness-3, near the [[Bnei Yehuda, Golan Heights|Bnei Yehuda]] industrial area; and, in September, Ness-6, located near the entrance of [[Kanaf|Moshav Kanaf]], just southeast of [[Gamla]].<ref name=jpostWells>{{cite web | last = Udasin | first = Sharon | title = Still too soon to determine production potential of Golan Heights oil: Afek Oil and Gas say findings have so far revealed a ‘very robust oil-bearing strata’ | url = http://www.jpost.com/Business-and-Innovation/Environment/Still-too-soon-to-determine-production-potential-of-Golan-Heights-oil-421220 | publisher = The Jerusalem Post | date = 7 October 2015 | accessdate = 26 October 2015}}</ref> As of October 2015, an estimate of the volume of resources and to what extent they may be extractable is unknown.<ref name=jpostThirdWell>{{cite web | last = Udasin | first = Sharon | title = Drilling begins at third Golan Heights oil exploration site: "We are very pleased with the progress of the work and the findings, which have thus far matched our expectations," said Afek Oil chief geologist Dr. Yuval Bartov | url = http://www.jpost.com/Business-and-Innovation/Environment/Drilling-begins-at-third-Golan-Heights-oil-exploration-site-413239 | publisher = The Jerusalem Post | date = 8 August 2015 | accessdate = 26 October 2015}}</ref>
</ref> South of [[Katzrin]] in the southern Golan Heights in 2015, Afek discovered a substantial amount of oil and natural gas reserves which would make Israel energy self-sufficient.{{efn|As of 2015, Israel consumes 270,000 barrels of oil per day.<ref name=GraeberReserves>{{cite web | last = Graeber | first = Daniel J | title = Israel upbeat on Golan oil potential: Israeli company estimates reserve column 10 times larger than global average | url = http://www.upi.com/Business_News/Energy-Industry/2015/10/07/Israel-upbeat-on-Golan-oil-potential/9401444212278/ | publisher = [[United Press International|UPI]] | date = 7 October 2015 | accessdate = 26 October 2015}}</ref>}}<ref name=GraeberReserves/><ref name=Globes>
{{cite news
| title = Huge oil discovery on Golan Heights: Estimates are that the amount of oil found will make Israel self sufficient for very many years to come
| url = http://www.globes.co.il/en/article.aspx?did=1001071698&from=iglobes
| newspaper = [[Globes (newspaper)|Globes]]
| date = 7 October 2015
| access-date = 26 October 2015}}
</ref><ref name=Graeber2>
{{cite news
| last = Graeber | first = Daniel J
| title = Major reserve discovery confirmed in the southern Golan Heights: Leadership of company behind the find seen as close to Israeli Prime Minister Netanyahu
| url = http://www.upi.com/Business_News/Energy-Industry/2015/10/09/Major-reserve-discovery-confirmed-in-Golan-Heights/6461444389373/
| agency = UPI
| date = 9 October 2015
| access-date = 26 October 2015}}
</ref> The company had drilled a series of exploratory wells including Ness-5, just northwest of the [[Avnei Eitan]] and [[Nov, Golan Heights|Nov moshavim]] and south of [[Natur, Golan Heights|Kibbutz Natur]] and the town of Katzrin; Ness-3, near the [[Bnei Yehuda, Golan Heights|Bnei Yehuda]] industrial area; Ness-6, located near the entrance of [[Kanaf|Moshav Kanaf]], just southeast of [[Gamla]];<ref name=jpostWells>
{{cite news
| last = Udasin | first = Sharon
| title = Still too soon to determine production potential of Golan Heights oil: Afek Oil and Gas say findings have so far revealed a 'very robust oil-bearing strata'
| url = http://www.jpost.com/Business-and-Innovation/Environment/Still-too-soon-to-determine-production-potential-of-Golan-Heights-oil-421220
| newspaper = [[The Jerusalem Post]]
| date = 7 October 2015
| access-date = 26 October 2015}}
</ref> and Ness 10 north of the Sheikh-Ali Fault. In November 2017, the company announced that it suspended its exploratory drilling program as the well's target zone does not contain commercially producible quantities of oil or natural gas.<ref name="genie1161117">
{{cite press release
|publisher=Genie Energy
|title= Genie Energy Suspends Exploratory Oil and Gas Drilling Program in Northern Israel
|url= https://www.prnewswire.com/news-releases/genie-energy-suspends-exploratory-oil-and-gas-drilling-program-in-northern-israel-300558113.html
|date=2017-11-16
|access-date=2019-03-23}}
</ref>


Human rights groups have said the drilling violates international law as Golan Heights is an occupied territory.<ref>{{cite news |last=Khoury|first=Jack|date=25 February 2016|title=Human Rights Groups: Golan Oil Drilling Contravenes International Law|url=http://www.haaretz.com/israel-news/.premium-1.705391|newspaper=Haaretz|access-date=5 April 2016}}</ref>
Human rights groups have said the drilling violates international law as Golan Heights is an occupied territory.<ref>{{cite news |last=Khoury |first=Jack |date=25 February 2016 |title=Human Rights Groups: Golan Oil Drilling Contravenes International Law |url=http://www.haaretz.com/israel-news/.premium-1.705391 |newspaper=Haaretz|access-date=5 April 2016}}</ref>


===American Shale Oil===
===American Shale Oil===
{{main|American Shale Oil}}
{{main|American Shale Oil}}
American Shale Oil (AMSO) was a joint venture between Genie Energy and [[Total S.A.]].<ref name=reuters140109>
American Shale Oil (AMSO) was a joint venture between Genie Energy and [[Total S.A.]]<ref name=reuters140109>
{{cite news
{{cite news
| agency = Reuters
| work = Reuters
| title = Total buys 50 pct stake in AMSO to sell shale oil
| title = Total buys 50 pct stake in AMSO to sell shale oil
| url= http://uk.reuters.com/article/mnaNewsTechMediaTelco/idUKLE35613420090114
| url= http://uk.reuters.com/article/mnaNewsTechMediaTelco/idUKLE35613420090114
| archive-url= https://archive.today/20130201043025/http://uk.reuters.com/article/mnaNewsTechMediaTelco/idUKLE35613420090114
| date = 2009-01-14
| url-status= dead
| accessdate=2011-10-06}}
| archive-date= February 1, 2013
</ref>
| date =January 14, 2009
Genie announced in May 2016 that the partners were closing the venture.
| access-date=October 6, 2011}}
<ref name=closing>{{cite web
</ref> Genie announced in May 2016 that the partners were closing the venture.<ref name=closing>{{cite web
| url= http://investors.genie.com/profiles/investor/ResLibraryView.asp?ResLibraryID=81534
|url = http://investors.genie.com/profiles/investor/ResLibraryView.asp?ResLibraryID=81534
| publisher = Genie Energy
|archive-url = https://web.archive.org/web/20190211024830/http://investors.genie.com/profiles/investor/ResLibraryView.asp?ResLibraryID=81534
| title = First Quarter 2016 Results
|url-status = dead
| accessdate=2016-8-2
|archive-date = February 11, 2019
}}</ref>
|publisher = Genie Energy
AMSO received in 2006 a Research, Development and Demonstration (RD&D) lease from the U.S. [[Bureau of Land Management]] in Colorado's [[Piceance Basin]] in order to develop a process for generating oil and gas from deep buried [[oil shale]].<ref name=DOE>
|title = First Quarter 2016 Results
|access-date = August 2, 2016
}}</ref> and its pilot plant facilities located outside of Rifle, Colorado, were subsequently decommissioned and removed. AMSO received in 2006 a Research, Development and Demonstration (RD&D) lease from the U.S. [[Bureau of Land Management]] in Colorado's [[Piceance Basin]] in order to develop a process for generating oil and gas from deep buried [[oil shale]].<ref name=DOE>
{{Cite book
{{Cite book
|publisher=[[United States Department of Energy]]
|publisher = [[United States Department of Energy]]
|title=Secure Fuels from Domestic Resources: The Continuing Evolution of America's Oil Shale and Tar Sands Industries
|title = Secure Fuels from Domestic Resources: The Continuing Evolution of America's Oil Shale and Tar Sands Industries
|year=2010
|year = 2010
|url= http://www.unconventionalfuels.org/publications/reports/SecureFuelsReport2010.pdf
|url = http://www.unconventionalfuels.org/publications/reports/SecureFuelsReport2010.pdf
|archive-url = https://web.archive.org/web/20110427231417/http://www.unconventionalfuels.org/publications/reports/SecureFuelsReport2010.pdf
|format=PDF
|url-status = dead
|pages=14–15
|archive-date = April 27, 2011
|edition = 4th
|pages = 14–15
|accessdate=2011-10-06}}
|edition = 4th
</ref> The lease comprised a tract of {{convert|160|acre}}, and was granted for an initial term of 10&nbsp;years with the possibility of up to a 5-year extension upon proof of diligent progress toward commercial production. <ref name=CRS>
|access-date = October 6, 2011
}}
</ref> The lease comprised a tract of {{convert|160|acre}}, and was granted for an initial term of 10&nbsp;years with the possibility of up to a 5-year extension upon proof of diligent progress toward commercial production.<ref name=CRS>
{{Cite report
{{Cite report
|first=Anthony | last = Andrews
|first=Anthony | last = Andrews
Line 137: Line 183:
|date=2008
|date=2008
|url= http://www.fas.org/sgp/crs/misc/RL34748.pdf
|url= http://www.fas.org/sgp/crs/misc/RL34748.pdf
|pages=18–19
|format=PDF
|access-date=October 6, 2011
|pages=18-19
|accessdate=2011-10-06
|id = CRS RL34748}}
|id = CRS RL34748}}
</ref> AMSO had no operations and accrued no expenses for the first half of 2014.<ref>{{cite report| title=Genie Energy quarterly report August 2014.| url=http://genie.com/investors/sec-filings/}}</ref> AMSO's tech team was headed by Dr. Alan Burnham, a scientist at [[Lawrence Livermore National Laboratory]].<ref name=burnham-profile>
</ref> AMSO's tech team was headed by Dr. Alan Burnham, a scientist at [[Lawrence Livermore National Laboratory]].<ref name="burnham-profile">
{{cite web
{{cite web
| work = [[Bloomberg Businessweek]]
| work = [[Bloomberg Businessweek]]
| title = Alan K. Burnham Ph.D. Executive Profile
| title = Alan K. Burnham Ph.D. Executive Profile
| url= http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=104552336&privcapId=40273707&previousCapId=91031&previousTitle=NEWS%20CORP-CL%20A
| url= http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=104552336&privcapId=40273707&previousCapId=91031&previousTitle=NEWS%20CORP-CL%20A
| access-date=October 31, 2011}}{{dead link|date=April 2023|bot=medic}}{{cbignore|bot=medic}}
| accessdate=2011-10-31}}
</ref> AMSO's proposed technology was called CCR (Conduction, Convection, Reflux).<ref name=DOE/>
</ref> AMSO's proposed technology was called CCR (Conduction, Convection, Reflux).<ref name=DOE/>


===Israel Energy Initiatives===
===Israel Energy Initiatives===
Line 157: Line 202:
| url= http://www.jpost.com/Israel-News/Jlem-District-Ctee-rejects-Shefla-basin-oil-shale-pilot-project-374265
| url= http://www.jpost.com/Israel-News/Jlem-District-Ctee-rejects-Shefla-basin-oil-shale-pilot-project-374265
| date = 2014-09-02
| date = 2014-09-02
| accessdate=2015-02-12}}
| access-date=2015-02-12}}
</ref> By the time of the committee ruling most of the staff of IEI, including Chief Scientist Harold Vinegar, had moved to work at the sister company, Afek.
</ref> By the time of the committee ruling most of the staff of IEI, including Chief Scientist [[Harold Vinegar]], had moved to work at the sister company, Afek.


IEI planned to use In-Situ Conversion Process technology for its pilot project, following the format a 1995 trial by [[Royal Dutch Shell]]. Shell subsequently shut down its work on developing the technology.
IEI planned to use In-Situ Conversion Process technology for its pilot project, following the format a 1995 trial by [[Royal Dutch Shell]]. Shell subsequently shut down its work on developing the technology.


Israel's major environmental organizations, including the [[Jewish National Fund]], the [[Society for the Protection of Nature in Israel]], [[Greenpeace]], and the [[Israel Union for Environmental Defense]] protested against the IEI license. Environmental concerns include the potential for contaminating Israel's Shfela [[aquifer]], which runs underneath the Shfela oil shale formation, for destroying a rural region of Israel that currently promotes eco-tourism, and for reversing Israel's efforts to reduce [[greenhouse gas emissions]]. Residents of the local community of [[Adullam]] and their supporters led the campaign to stop the IEI work, citing both the environmental damage and the questionable economic value of the project.<ref>
Israel's major environmental organizations, including the [[Jewish National Fund]], the [[Society for the Protection of Nature in Israel]], [[Greenpeace]], and the [[Israel Union for Environmental Defense]] protested against the IEI license. Environmental concerns include the potential for contaminating Israel's Shfela [[aquifer]], which runs underneath the Shfela oil shale formation, for destroying a rural region of Israel that currently promotes eco-tourism, and for reversing Israel's efforts to reduce [[greenhouse gas emissions]]. Residents of the local community of [[Adullam]] and their supporters led the campaign to stop the IEI work, citing both the environmental damage and the questionable economic value of the project.<ref>
{{Cite web
{{Cite web
| title = Oil & Wine Don't Mix: Over 1,000 Israelis Protest Oil Shale In Adullam
| title = Oil & Wine Don't Mix: Over 1,000 Israelis Protest Oil Shale In Adullam
Line 168: Line 213:
| date = 2010-12-08
| date = 2010-12-08
| url=http://www.greenprophet.com/2010/12/oil-shale-protest
| url=http://www.greenprophet.com/2010/12/oil-shale-protest
| accessdate = 2011-10-18}}
| access-date = 2011-10-18}}
</ref>

===Genie Oil Shale Mongolia===
Genie Oil Shale Mongolia is a subsidiary of Genie Oil and Gas. It is a project company for oil shale exploration in Mongolia. The company has exploration rights for {{convert|34470|km2|adj=on}} and {{convert|25000|km2|adj=on}} plots in Central Mongolia.<ref name=genie160914>
{{cite press release
| publisher = Genie Energy
| title = Genie Energy Signs Agreement for Additional Oil Shale Exploration in Mongolia
| url= http://www.businesswire.com/news/home/20140916005967/en/Genie-Energy-Signs-Agreement-Additional-Oil-Shale
| date = 2014-09-16
| accessdate=2015-12-01}}
</ref>
</ref>


Line 188: Line 223:


==References==
==References==
<references />
{{reflist|2}}


{{Authority control}}
==External links==
* [http://www.genie.com/ Genie Energy official website]
* [http://www.genieoilgas.com/ Genie Oil & Gas official website]
* [http://amso.net/ AMSO official website]
* [http://www.afekoil.com/ Afek official website (English)]
* [http://www.iei-energy.co.il/ IEI official website (Hebrew)]
* [http://www.iei-energy.com/ IEI official website (English)]
* [http://www.idtenergyinc.com/ IDT Energy official website]
* [http://idt.net/ IDT Corp official website]
* [http://www.saveadullam.org/english/index.html Save Adullam website]
* [http://www.adamteva.org.il/?CategoryID=388 Israel Union for Environmental Defense]


[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Oil companies of the United States]]
[[Category:Oil companies of the United States]]
[[Category:Oil shale companies]]
[[Category:Oil shale companies of the United States]]
[[Category:Companies based in Newark, New Jersey]]
[[Category:Companies based in Newark, New Jersey]]
[[Category:Total S.A.]]
[[Category:TotalEnergies]]

Latest revision as of 22:22, 13 October 2024

Genie Energy Ltd.
Company typePublic
NYSE: GNE (Class B)
Russell Microcap Index component
IndustryOil and gas industry
Electricity
FounderHoward Jonas
Headquarters
Newark, New Jersey
,
United States
Key people
Michael Stein (CEO)
Avi Goldin (CFO)
Geoff Rochwarger (Vice Chairman)
Michael Stein (COO and CEO of Genie Retail Energy)
RevenueUS$280.30 million (2018)[1]
US$9.02 million (2018)[1]
US$22.78 million (2018)[1]
Total assetsUS$146.86 million (2018)[1]
Total equityUS$92.66 million (2018)[1]
SubsidiariesGenie Retail Energy
Genie Oil and Gas
Websitewww.genie.com

Genie Energy Ltd. is an American energy company headquartered in Newark, New Jersey. It is a holding company comprising Genie Retail Energy, Genie Retail Energy International, Genie Energy Services, and Genie Energy Oil and Gas. Michael Stein is the Chief Executive Officer, Genie Energy Ltd.[2]

In 2004, seeking to diversify, IDT Telecom’s Founder, Chairman and CEO, Howard Jonas, launched its first Retail Energy Provider or “REP” and enrolled its first energy supply customers. Then, in October, 2011, Genie Energy Ltd. (NYSE:GNE), was spun-off from IDT Corporation as an independent public company, at which point Class B common stock of Genie Energy Ltd. began trading on the NYSE under the ticker symbol "GNE".

Genie's founder and chairman is Howard Jonas. Michael Stein is the company's Chief Executive Officer of Genie Energy and Chief Executive Officer of Genie Retail Energy. Avi Goldin serves as the company's CFO.

The president of its Israeli subsidiary is Effie Eitam. Genie Energy's Strategic advisory board is composed of: Dick Cheney since 2009 (former vice president of the United States),[3] Rupert Murdoch (media mogul and chairman of News Corp), James Woolsey (former CIA director), Larry Summers (former head of the US Treasury), Michael Steinhardt, Jacob Rothschild,[4][5] and Mary Landrieu, former United States Senator from Louisiana.

In 2013, IDT Energy, Inc., a subsidiary of Genie Energy, acquired both Dallas-based Diversegy, LLC a commercial energy advisory and its network marketing channel, Epiq Energy. They are now wholly owned subsidiaries of Genie Energy Ltd.[6]

Genie Retail Energy

[edit]

Genie Retail Energy (GRE) comprises the company’s domestic electricity and natural gas supply companies. Commonly referred to as “Retail Energy Providers” or “REPs”, these companies offer traditional and renewable/green energy supply options to residential and small/medium commercial clients throughout deregulated energy states in the United States. GRE companies purchase electricity and natural gas in the wholesale markets which it resells to residential and small business customers in New York, New Jersey, New Hampshire, Pennsylvania, Connecticut, Ohio, Rhode Island, Illinois, Massachusetts, Maine, Delaware, Texas, Maryland, and Washington, DC. Commercial natural gas supply customers are also served in the state of Florida. These companies offer a variety of products and services, including fixed rate and variable rate energy supply plans, traditional and green electricity options, and clean, carbon offset natural gas programs. Like other REP's, GRE companies compete against incumbent electric and gas utilities as well as over 100 or more other REPs.

In November 2016, Genie Energy acquired Retail Energy Holdings, LLC. (REH), and added REH's brand, Town Square Energy, and meters to Genie Retail Energy's portfolio.[7] In August 2017, Genie Energy announced a joint venture to enter the retail energy market and begin customer acquisition in the United Kingdom.[8] Also in August 2017, Genie Retail Energy acquired Mirabito Natural Gas, a Ft. Lauderdale, Florida-based natural gas supplier to commercial customers.[9]

In January 2019, Genie Retail Energy acquired a majority stake in Lumo Energia, a Finnish supplier of renewable electricity,[10] and earlier this year launched Genie Energy Japan, offering customers a variety of high value electricity supply products in the dynamic Japanese retail market.

In 2022 Lumo unilaterally terminated fixed term and fixed price electricity deals of c. 8,000 consumers, thus causing financial damages of even thousands of Euros to each customer. Lumo offered 2 cent/kWh compensation, equaling few million Euros, while selling electricity derivative assets for €30 million. Finnish consumer protection authority regarded this compensation as inadequate.[11] [12]

Genie Oil and Gas

[edit]

Genie Oil and Gas (GOGAS) explored for conventional oil in the Israeli-occupied Golan Heights through its Afek Oil and Gas subsidiary, and pursued oil shale projects through American Shale Oil (AMSO), Israel Energy Initiatives (IEI) and Genie Energy Mongolia. AMSO, IEI, and Genie Energy Mongolia are no longer active. 89% of GOGAS was owned by Genie Energy while Jacob Rothschild, Michael Steinhardt and Rupert Murdoch among others held minority interests.[13][14][15]

Afek Oil and Gas

[edit]

In February 2013, Israeli authorities awarded Afek Oil and Gas an exclusive 36-month petroleum exploration license to a 153-square-mile (400 km2) plot in the Israeli-occupied Golan Heights, which the UN recognizes to be Syrian territory.[16][17][18][19] Afek subsequently conducted above-ground geophysical tests and based on its preliminary analysis, has applied for a ten well exploratory drilling program.[20] South of Katzrin in the southern Golan Heights in 2015, Afek discovered a substantial amount of oil and natural gas reserves which would make Israel energy self-sufficient.[a][21][22][23] The company had drilled a series of exploratory wells including Ness-5, just northwest of the Avnei Eitan and Nov moshavim and south of Kibbutz Natur and the town of Katzrin; Ness-3, near the Bnei Yehuda industrial area; Ness-6, located near the entrance of Moshav Kanaf, just southeast of Gamla;[24] and Ness 10 north of the Sheikh-Ali Fault. In November 2017, the company announced that it suspended its exploratory drilling program as the well's target zone does not contain commercially producible quantities of oil or natural gas.[25]

Human rights groups have said the drilling violates international law as Golan Heights is an occupied territory.[26]

American Shale Oil

[edit]
Main article: American Shale Oil

American Shale Oil (AMSO) was a joint venture between Genie Energy and Total S.A.[27] Genie announced in May 2016 that the partners were closing the venture.[28] and its pilot plant facilities located outside of Rifle, Colorado, were subsequently decommissioned and removed. AMSO received in 2006 a Research, Development and Demonstration (RD&D) lease from the U.S. Bureau of Land Management in Colorado's Piceance Basin in order to develop a process for generating oil and gas from deep buried oil shale.[29] The lease comprised a tract of 160 acres (65 ha), and was granted for an initial term of 10 years with the possibility of up to a 5-year extension upon proof of diligent progress toward commercial production.[30] AMSO's tech team was headed by Dr. Alan Burnham, a scientist at Lawrence Livermore National Laboratory.[31] AMSO's proposed technology was called CCR (Conduction, Convection, Reflux).[29]

Israel Energy Initiatives

[edit]

Israel Energy Initiatives (IEI) was founded in 2008 to develop oil shale in Israel. In July 2011, the company received a one-year extension of a three-year license to explore oil shale resources on 238 square kilometres (92 sq mi) in Israel's Shefela region.[32] In September 2014, a government planning committee rejected a building permit for the project. The committee decision essentially killed the project, as IEI did not pursue any means of appeal.[33] By the time of the committee ruling most of the staff of IEI, including Chief Scientist Harold Vinegar, had moved to work at the sister company, Afek.

IEI planned to use In-Situ Conversion Process technology for its pilot project, following the format a 1995 trial by Royal Dutch Shell. Shell subsequently shut down its work on developing the technology.

Israel's major environmental organizations, including the Jewish National Fund, the Society for the Protection of Nature in Israel, Greenpeace, and the Israel Union for Environmental Defense protested against the IEI license. Environmental concerns include the potential for contaminating Israel's Shfela aquifer, which runs underneath the Shfela oil shale formation, for destroying a rural region of Israel that currently promotes eco-tourism, and for reversing Israel's efforts to reduce greenhouse gas emissions. Residents of the local community of Adullam and their supporters led the campaign to stop the IEI work, citing both the environmental damage and the questionable economic value of the project.[34]

See also

[edit]

Notes

[edit]
  1. ^ As of 2015, Israel consumes 270,000 barrels of oil per day.[21]

References

[edit]
  1. ^ a b c d e "Annual Report 2018" (PDF). Genie Energy. Retrieved 2019-05-05.
  2. ^ "Michael Stein Chief Executive Officer, Genie Energy Ltd profile". Bloomberg News. Retrieved 2022-03-20.
  3. ^ "Oil in the Levant attracts intermediaries: Impending oil exploration in the strategic Golan Heights and off the coast of Lebanon has inspired a number of ex-political figures to hone their advisory skills". Intelligence Online. 27 February 2013. Archived from the original on 24 May 2021. Retrieved 5 January 2021.
  4. ^ "Business and Financial Leaders Lord Rothschild and Rupert Murdoch Invest in Genie Oil & Gas". Business Wire. 2010-11-15. Retrieved 2016-12-19.
  5. ^ "Black gold under the Golan". The Economist. 7 November 2015. Retrieved 10 December 2016.
  6. ^ "Genie Retail Energy Acquires Retail Energy Holdings, LLC". Genie Energy Press Release.
  7. ^ "Genie Energy Launches JV to Pursue UK Retail Energy Market". Genie Energy press release. August 2, 2017.
  8. ^ "Genie Energy acquires Florida-based commercial natural gas supplier". Your Oil and Gas News. August 15, 2017. Archived from the original on September 12, 2017.
  9. ^ "Genie Energy acquires Finnish renewable power supplier Lumo Energia". Renewable Now. 2019-01-07. Retrieved 2019-03-23.
  10. ^ "Sähkö | Lumo Energia kaatui, ja nyt entisille asiakkaille tulee jopa tuhansien eurojen lisälasku – "Naurettava", kuvaa asiakas yhtiön reaktiota". Helsingin Sanomat (in Finnish). 2022-09-11. Retrieved 2022-10-25.
  11. ^ "Lumo Energia lopetti korvausneuvottelut kuluttaja-asiamiehen pyydettyä olennaisia tietoja yhtiön taloustilanteesta". Kilpailu- ja kuluttajavirasto (in Finnish). 2022-10-21. Retrieved 2022-10-25.
  12. ^ "Business and Financial Leaders Lord Rothschild and Rupert Murdoch Invest in Genie Oil & Gas" (Press release). IDT Corporation. 2010-11-15. Archived from the original on 2012-04-02. Retrieved 2011-10-06.
  13. ^ "Michael Steinhardt to Become Chairman of IDT Corporation Subsidiary, Israel Energy Initiatives" (Press release). IDT Corporation. 2010-04-19. Archived from the original on 2012-04-02. Retrieved 2011-10-06.
  14. ^ Barkat, Amiram (2010-11-22). "Murdoch, Rothschild invest in Israeli shale oil". The Jerusalem Post. Retrieved 2011-10-06.
  15. ^ Kelley, Michael (February 22, 2013). "Israel Grants First Golan Heights Oil Drilling License To Dick Cheney-Linked Company". Business Insider. Retrieved 31 August 2013.
  16. ^ "Israel approves drilling for oil in Golan Heights". The Jerusalem Post. 2013-02-02. Retrieved 2014-05-20.
  17. ^ Barkat, Amiram (20 February 2013). "Israel awards first Golan oil drilling license". Globes. Retrieved 22 February 2013.
  18. ^ "N.J. firm wins original rights to drill in Golan Heights". JTA. 21 February 2013. Archived from the original on 15 April 2013. Retrieved 22 February 2013.
  19. ^ "Genie Energy Reports First Quarter 2014 Results" (PDF) (Press release). Genie Energy. 2014-05-07. Retrieved 2015-12-01.[permanent dead link‍]
  20. ^ a b Graeber, Daniel J (7 October 2015). "Israel upbeat on Golan oil potential: Israeli company estimates reserve column 10 times larger than global average". UPI. Retrieved 26 October 2015.
  21. ^ "Huge oil discovery on Golan Heights: Estimates are that the amount of oil found will make Israel self sufficient for very many years to come". Globes. 7 October 2015. Retrieved 26 October 2015.
  22. ^ Graeber, Daniel J (9 October 2015). "Major reserve discovery confirmed in the southern Golan Heights: Leadership of company behind the find seen as close to Israeli Prime Minister Netanyahu". UPI. Retrieved 26 October 2015.
  23. ^ Udasin, Sharon (7 October 2015). "Still too soon to determine production potential of Golan Heights oil: Afek Oil and Gas say findings have so far revealed a 'very robust oil-bearing strata'". The Jerusalem Post. Retrieved 26 October 2015.
  24. ^ "Genie Energy Suspends Exploratory Oil and Gas Drilling Program in Northern Israel" (Press release). Genie Energy. 2017-11-16. Retrieved 2019-03-23.
  25. ^ Khoury, Jack (25 February 2016). "Human Rights Groups: Golan Oil Drilling Contravenes International Law". Haaretz. Retrieved 5 April 2016.
  26. ^ "Total buys 50 pct stake in AMSO to sell shale oil". Reuters. January 14, 2009. Archived from the original on February 1, 2013. Retrieved October 6, 2011.
  27. ^ "First Quarter 2016 Results". Genie Energy. Archived from the original on February 11, 2019. Retrieved August 2, 2016.
  28. ^ a b Secure Fuels from Domestic Resources: The Continuing Evolution of America's Oil Shale and Tar Sands Industries (PDF) (4th ed.). United States Department of Energy. 2010. pp. 14–15. Archived from the original (PDF) on April 27, 2011. Retrieved October 6, 2011.
  29. ^ Andrews, Anthony (2008). Developments in Oil Shale (PDF) (Report). Congressional Research Service. pp. 18–19. CRS RL34748. Retrieved October 6, 2011.
  30. ^ "Alan K. Burnham Ph.D. Executive Profile". Bloomberg Businessweek. Retrieved October 31, 2011.[dead link‍]
  31. ^ 10-k, IDT Corp, October 11, 2011
  32. ^ Udasin, Sharon (2014-09-02). "Jerusalem District Committee rejects Shefla basin oil shale pilot project". The Jerusalem Post. Retrieved 2015-02-12.
  33. ^ Laylin, Tafline (2010-12-08). "Oil & Wine Don't Mix: Over 1,000 Israelis Protest Oil Shale In Adullam". Retrieved 2011-10-18.
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