The sign makes no clear sense.

Does this not present an opportunity to change the conditions of the license to take 75-80% of all profit for the country?

Yea lets have the government take advantage of research carried out by a private oil company…Do you even think before typing?

What sane oil company would bother looking at Ireland ever again if all the government do is brush them aside whenever there is a decent chance of oil?

Oh and will you be complaining about the millions we would spend if there is no oil? There is only about a 20% chance that the dalkey island project will be viable.

Orion, seriously, do you think before you type..
So if the state were to spend millions on explorations,, great, let them spend it. FFS they giving BILLIONS away to banks for gods sake. Whats millions compared to that? .. And who knows, maybe they will find something that could be used to the benefit of us all.

Bloody hell Phil. Be careful. You’re putting your liberty at risk, by making such outrageous sensible statements like that? Shhhhhh

How about we train young irish people on how to find oil. The purchase the right equipment and do it for our selfs.
What’s wrong with this country we have no self believe.
Nationalise it , train up our people , invest UN the technology and eventually the irish people reap the rewards.
Then we might have a chance at becoming self sustainable.
Vision.

@joseph mcgee

No, it costs millions to setup the remainder o the dalkey island project. It will cost billions over all though. Each and every oil prospect costs billions and billions. Who would lend to Ireland if we squandered billions of euro and came up with no oil? This isnt like Norway where you have a good chance of finding oil, its a low chance in Ireland every time.
And this is nothing to do with the banks? Stop trying to blame the banks and government for everything else.

The only reason we have oil companys looking for oil here at the moment is due to the cost of Oil making it non-Viable until recently.

Oh and 25-49% of the profits profidence will make here go to the Government throught taxation.

Providence*

Are you really a Cllr?
You might want to study oil exploration before you comment.
Also go study proper grammar and spelling please.

Declan — Why do you attack people like this all the time? Why don’t you make an argument yourself for once?

Train Irish people to find the oil? The oil that might not be there, and might not be viable? Train large numbers of highly skilled professionals in extracting resources that Ireland might not have?

Have you heard of Bob Servant (Independent)?

Petr, you are the pot calling the kettle black. If he is indeed a councillor, I am just expecting more from a person who job is to represent a constituency.

As I understand it, there’s a LOT more oil under Norwegian waters than here. Hence, oil companies see it as less risk. If oil were so plentiful off our coast, there would be plenty of rigs, especially since our government are ‘apparently’ giving the stuff away. But there aren’t, because the odds are far more slim in comparison.

It costs a LOT of money to go prospecting, especially in deep water.

Well maybe wait until it becomes profitable instead of giving it away for nothing.

David, there might not be any oil out there. That’s the point. It costs millions to prospect for it. The Irish government haven’t given any oil away. None!!! We probably don’t have any viable oil drilling sights. We probably will have to continue to import 100% of our oil.

Apologies for the typos.

“The cost of exploration will eventually be footed by the irish tax payer ” – no it wont, that would have happened if we nationalised the oil , ofcourse they wont pay tax on an expense , thats how business works here , if i buy a truck I dont pay vat on it , I dont pay tax on the money I used to buy the truck or service it because its an expense to my business, you cant tax a loss.

Yeah!! Brilliant great result!!!

Susanna — If you had something of great value and were broke, would you sell it at a decent price or give it away for free?

I don’t think this was a victory for anybody. It’s a case of their legal due diligence not being positive and thus creating a level of legal risk which Providence were not comfortable with.

Yes but surely it buys time

Must not be much there so. At least there not getting what was there now.instead of Irish water could we not set up Irish oil?

Petr
You regard something damaging to the National economy as a victory!

It existed or exists as INPC….

This is definitely not a “great victory”. Sounds like they’ve temporarily surrendered the license to allow our corrupt government to move the goalposts to prevent completely justified legal challenges. Once said goalposts have been moved the license will granted, regardless of opposition.

Anyone else getting a case of deja vu. A government that was supposed to legislate for the X case but didn’t. They then create prom notes to bail out bond holders. Now its the license to drill for oil. Can someone tell me exactly what FF did while in power cause it seems to me they did very little except mortgage the house, any chance that in a few years they’ll discover that FG haven’t got all their i’s dotted and t’s crossed also.

This is not a victory for the people, it’s just another demonstration of how corrupt our government is!

Yeah they might be a little weird and dirty but at least they done somethin about the theft of natural resources, to much mainstream media for you me thinks. Less RTE would do ye the would of good

Actually, those who want to give away a valuable resource for free are nutters.

What’s a good thing for Ireland.
It’s good that we have natural resources.
Not overseeing the extraction process and claiming a reasonable share, well that’s not good.

If you think the government were giving away the oil and gas for free i think you need to step away from indymedia propaganda, the tax take from oil and gas export , employees income tax, corporation tax and associated increase in local services would be in the billions , we did not give away anything for free .

Not true. We have had very little in tax from oil companies as they can write off losses for years. Also many staff at shell were from Scotland so would pay tax there unless here for longer than a year….

Petr
Ok let’s take you up on the challenge. Let’s set up a Company funded by the State to search for oil off all our coasts. What do you think it would cost.?
Then let’s set up a fully State funded Company to extract any oil they find and then process it into a pump ready product!
Any idea of cost?
Buddy If we were lucky enough to find oil in the next ten years we might break even but since we have no experience whatever the considered view is that we’d lose a couple of billion!
How easy the Extreme Left think it is to make money and jobs!

And youd all be the exact same ones blaming the government if we had paid for the exploration ourselves

Own Our Oil – OwnOurOil.ie
http://www.ownouroil.ie/index.php

“In March 1958 an Oil was Company registered in Dublin with a view to securing rights for 27,000 square miles of the Irish Republic.The shareholders were 3 Americans trading as ‘Madonna Oil’. They were granted exclusive exploration drilling rights by Seam Lemass for a sum of £500.

They sold a two thirds share in 1961 for $450,000. By 1975 and the discovery of Gas in Kinsale the shareholding had been bought and sold on numerous occasions and was worth £31m.”

“Marathon kept the Kinsale field and eventually discovered gas and sold it back to the Irish State for £700 million.”

“Ireland now has the second lowest tax take in the world out of 142 countries. And that is tax on profit – Ireland’s terms allow all costs going back 25 years to be written off against profits and the prospectors are already claiming to have amassed billions to date in costs. Therefore the state would receive very little revenue from any find under current conditions.”

Declan has been crawling on here and insulting people for no reason for ages now. He must have little to do.

Following the discoveries the Government should look to up the taxes on oil finds in Irish territories.