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<p style="font-size:xx-small;">HERZLIYA, Israel The head of the U.S. company leading natural gas
exploration off Israel's coast on Thursday urged the country to develop
a national gas export policy, warning that government tax policy was scaring
off potential investors.Charles Davidson, CEO of Texas-based Noble Energy,
criticized Israel's decision in 2011 to nearly double tax rates on gas
profits after his company had already invested $1 billion in an offshore
field. He said the "very unusual" move may have driven away companies
from investing in Israel's emerging gas sector.He said he sensed hesitation
from potential investors who could help develop the Leviathan field, a large
find that is expected to produce enough gas for export."I felt that
.. companies were a little bit reluctant because of what had happened
on taxes in the past," Davidson said at the company's local offices
in the coastal town of Herzliya.In 2011, Israel's government raised taxes
on gas and oil finds, boosting the revenues to between 52 and
62 percent from under 30 percent.Davidson is in Israel after gas from
Tamar, one of Israel's new, sizable fields, started being extracted last
month. He hopes to convince authorities to agree on an export policy
that would provide clarity for investors looking to develop the resource.
For now, the gas is being used for domestic use only and
sold at fixed, previously negotiated prices.On Wednesday, Davidson met Israeli
Prime Minister Benjamin Netanyahu and
ribes
a rail line speeding nearly 100,000 people a day along a route
connecting Venezuela's main port, Puerto Cabello, with Valencia and the
country's other major central city, Maracay.She says it will be ready in
2012.Yet not a single section is complete after a decade of construction.The
railway may be the most visible symbol of unfulfilled promises in Chavez's
14 years as president. It is the heart of his ambitious plan
to create a network of lines across Venezuela, a nation that now
has a sum total of 40 kilometers (25 miles) of operating tracks.In
Maracay, three-story concrete pylons linked by monstrous girders parallel
Venezuela's main central highway. The elevated rail bed halts abruptly at
road crossings. There are phantom stations."This is going really slow,"
construction worker Anselmo Mendoza, 46, said while walking atop one section,
its steel bolts, plates and rebar coated with rust. "There isn't any
type of coordination."Mendoza has been on the job nine years. Most days,
he and his co-workers try to keep busy with work often unrelated
to actual construction.Billions have been spent so far on the 128-kilometer
(80-mile) project.Transportation Ministry spokesman Alexis Cabrera was asked
for information on construction delays and budgets. He said he would need
to ask the minister for permission, but didn't call back.At campaign rallies,
Capriles always rattles off a list of Chavez's unfinished projects.On Wednesday
night in
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