02/23/2009 05:12 am ET | Updated May 25, 2011

Israel's Natural Gas Bonanza Could Help Electric Cars -- Or Start A War

Amidst all its struggles to develop clean and cleaner technologies (and a recent war with Gaza), it seem that Israelis got a huge gift this week: they were celebrating the discovery of a massive estimated 3 trillion cubic feet natural gas pocket found buried 1.5 km below the sea floor, some 90 km off the coastal city Haifa.

Sounds like great news. Shai Agassi from Better Place will finally have the cleaner fuel source to launch his nation-wide electric car scheme in Israel, and Israel can stop buying natural gas from Egypt. But no so fast. Lebanon is staking its claim, saying that the natural gas reserve also belongs to the Lebanese. Could this be the means for Israel to make peace with Lebanon, once and for all, or could it lead to renewed conflicts?