Did you know that the US taxpayer is obligated to guarantee Israel’s oil supply, even if it causes as domestic shortage in America?
Under a 1975 Memorandum of Understanding (MOU), the USA guaranteed all Israel’s oil needs in the event of a crisis. This Memorandum of Understanding is quietly renewed every five years.
This Memorandum of Understanding is quietly renewed every five years.
It commits U.S. taxpayers to maintain a strategic U.S. reserve for Israel, equivalent to $3 billion in 2002 dollars. Special legislation was enacted to exempt Israel from restrictions on oil exports from the USA.
Moreover, the U.S. government agreed to divert oil from the USA, even if this causes domestic shortages. The U.S. government also guaranteed delivery of oil in U.S. tankers if commercial shippers become unable or unwilling to carry oil from the USA to Israel.
The renewed agreement, signed in 1979 (Memorandum of Agreement between the Governments of the United States of America and Israel – Oil, March 26, 1979) reads as follows:
“The oil supply arrangement of September 1, 1975, between the Governments of the United States and Israel, annexed hereto, remains in effect. A memorandum of agreement shall be agreed upon and concluded to provide an oil supply arrangement for a total of 15 years, including the 5 years provided in the September 1, 1975 arrangement.
“The memorandum of agreement, including the commencement of this arrangement and pricing provisions, will be mutually agreed upon by the parties within sixty days following the entry into force of the Treaty of Peace between Egypt and Israel. MORE AT SOURCE
thank you Brian
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