Can Oil Turn Beirut into a New Dubai or a New Baghdad?

Oilprice.com

The discovery of an important deposit of oil and natural gas in the Eastern Mediterranean Sea a few years ago in a triangular area just off the coasts of Israel, Cyprus and Lebanon, has the potential of bringing in billions of dollars to fill the state coffers – and a few pockets -- in Tel Aviv, Nicosia and Beirut. All three countries are badly in need of hard cash to help the state weather these tight economic times.

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