News Summary: Energy exec knocks Israel taxes

News Summary: Noble Energy CEO decries Israel taxes on natural gas

Associated Press

GAS TAX: The head of the U.S. energy company leading natural gas exploration off Israel's coast warns Israel's policies may scare off future investors.

SURPRISE: Charles Davidson, chief executive of Texas-based Noble Energy, says Israel's decision to adopt a new taxation policy in 2011, after Noble had already invested $1 billion, was "very unusual."

ONLY NATURAL: Israel recently began pumping offshore natural gas for domestic use. It is expected to begin exporting later this decade.

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