Genie Energy Ltd. is an American energy company headquartered in Newark, New Jersey. It is a holding company comprised of Genie Retail Energy, a retail energy provider in the United States, and Genie Oil and Gas, pursuing a conventional oil project in the occupied Syrian Highlands of Israel.
Genie is a part of IDT Corporation but played on October 31, 2011, where Class B's common share point from Genie Energy Ltd started trading on the NYSE under the ticker symbol "GNE".
Founder Genie, chairman, controlling shareholder and CEO is Howard Jonas. Avi Goldin serves as the company's CFO, Michael Stein is a COO company and Geoffrey Rochwarger serves as Vice Chairman. The president of his Israeli subsidiary is Effie Eitam. Genie Energy's Strategic Advisory Council comprises: Dick Cheney (former vice president of the United States), Rupert Murdoch (media mogul and News Corp chairman), Larry Summers (former head of Treasury Department), Bill Richardson , former New Mexico governor, former ambassador to the United Nations and United States Energy Minister, Michael Steinhardt, Jacob Rothschild, and Dan Landrieu. Former US Senator from Louisiana.
In 2013, IDT Energy, Inc., a subsidiary of Genie Energy, acquired Diversegy, LLC, commercial energy adviser and network marketing channel, based in Dallas, Epiq Energy. They are now a wholly owned subsidiary of Genie Energy Ltd.
Video Genie Energy
Genie Retail Energy
Genie Retail Energy (GRE) is the Genie Energy operating division that holds regulated energy providers Genie Energy, or retail energy (REP), business. GRE buys electricity and natural gas in wholesale markets resold to residential and small business customers in New York, New Jersey, New Hampshire, Pennsylvania, Connecticut, Ohio, Rhode Island, Illinois, Maryland and Washington, DC Commercial gas supply customers also served in the state of Florida. Like other REP, GRE competes with current gas and electricity operators as well as over 100 other REPs. GRE offers a wide range of product offerings including green energy from renewable resources, fixed tariff plans, and variable rate plans that allow customers to change suppliers at any time. In November 2016, Genie Energy acquired Retail Energy Holdings, LLC. (REH), and adds REH brand, Town Square Energy, and meter to Gene Retail Energy portfolio. In August 2017, Genie Energy announced a joint venture to enter the retail energy market and start customer acquisitions in the UK. Also in August 2017, Genie Retail Energy acquired Mirabito Natural Gas, an Ft. Lauderdale, Florida-based natural gas suppliers for commercial customers.
Maps Genie Energy
Genie and Gas Oil
Genie Oil and Gas (GOGAS) is exploring conventional oil in the Golan Heights through its subsidiary Afek Oil and Gas. GOGAS previously 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 is owned by Genie Energy while Jacob Rothschild, Michael Steinhardt and Rupert Murdoch among others have minority interests.
Oil and Gas Affects
In February 2013, the Israeli authorities gave Afek Oil and Gas an exclusive 36-month oil exploration license to a 153 square miles (400 km km) plot in the Golan Heights, which is recognized by the UN Syrian Territories. Afek then conducted geophysical testing on the ground and based on preliminary analysis, has applied for ten good exploration drilling programs. South of Katzrin in the southern Golan Heights by 2015, Afek discovers large amounts of oil and natural gas reserves. The company has drilled a series of exploration wells including Ness-5, northwest of Avnei Eitan and Nov moshavim and southern Kibbutz Natur and the town of Katzrin; Ness-3, near Bnei Yehuda industrial estate; Ness-6, located near the entrance of Moshav Kanaf, just southeast of Gamla.; and recently Ness 10 north of Syekh-Ali Sesar. In August 2017, Afek continued drilling operations at Ness 10 in an effort to determine whether its licensed area contained resources that could sustain commercial production.
American Shale Oil
American Shale Oil (AMSO) is a joint venture between Genie Energy and Total S.A. Genie announced in May 2016 that the partners closed the business. and pilot plant facilities located outside Rifle, CO., are then disabled and deleted. AMSO received in 2006 a Research, Development and Demonstration (RD & D) rental from the US Bureau of Land Management in Colorado Piceance Basin in order to develop a process to produce oil and gas from deep buried oil shale. The lease consists of 160 hectare channels (65 ha), and is provided for an initial 10-year period with a possible up to 5 year extension of evidence of diligent progress towards commercial production. AMSO's technology team is lead by Dr. Alan Burnham, a scientist at Lawrence Livermore National Laboratory. AMSO's proposed technology is called CCR (Conduction, Convection, Reflux)...
Israeli Energy Initiative
Israel Energy Initiatives (IEI) was established 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 at 238 square kilometers (92Ã, sqÃ, mi) in the Shefela region of Israel. In September 2014, the government planning committee refused the building permit for the project. The committee's decision basically kills the project, because IEI is not pursuing an appeal facility. By the time the ruling committee of most IEI staff, including Chief Scientist Harold Vinegar, had moved to work at the brother company, Afek.
IEI plans to use In-Situ Conversion Process technology for its pilot project, following a 1995 trial format by Royal Dutch Shell. Shell then shut down his work in developing the technology.
Major environmental organizations of Israel, including the Jewish National Fund, the Israeli Conservation Society, Greenpeace, and Israel's Union for Environmental Defense protest the IEI license. Environmental concerns include the potential to contaminate the aquifer Shfela Israel, which goes under the formation of shale shfela oil, for destroying the rural areas of Israel currently promoting ecotourism, and to reverse Israel's efforts to reduce greenhouse gas emissions. Residents of the Adullam community and their supporters are leading a campaign to stop IEI work, citing environmental degradation and the economic value of projects in question.
See also
- Energy Triangle
Note
References
External links
- Genie Energy's official website
- Genie & amp; Official gas website
- the official website of AMSO
- The official website of Afek (English)
- The official website of IEI (Hebrew)
- The official website of IEI (English)
- IDT Energy official website
- IDT Corp's official website
- Save Adullam website
- The Israeli Society for Environmental Defense
- Diversegy LLC website
Source of the article : Wikipedia
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