Irish Oil off the Mayo coast for free!!!!

marabhfuil

I, and not I alone, do find the reasoning behind the practical wholesale giveaway of the Corrib gasfield, off the coast of Mayo, to Shell Statoil and Marathon oil companies quite an extraordinary act of national traitorism and equally befuddling is the almost complete and utter disinterest in the deal done by our government by both the Irish public and media in the main.

Norwegian health and social welfare makes Irelands look like a third world nation in comparison and it is a well known fact that the Norwegians, thanks to the shrewd actions taken on behalf of their nation by their government at the time that deposits of natural gas and oil were discovered within their sovereign territory by setting up a national state oil company in Statoil, would not have the top class model of social services that they benefit from today.

The Corrib gas field off the Mayo coast is estimated to by worth in the region of 51,300,000,000 euros. Fifty one point three billion euros. Or fifty one billion three hundred million euros. Whatever way you write or look at it that is a considerable amount of money. That would go a fair way dealing with the current crisis would it not?

Why has the Irish government made the decision not to start up our own state owned gas company? Why not invest in the equipment and expertice to do so and keep the profit made for the people of Ireland. Why not invest a Billion in the starting of a company and reap the benefit for generations to come? Strange dealings have been done. Shadowy figures are invoved. Dead ends and hollow excuses surround this whole thing entirely. The political debate is mute. But why?

Do you know that it is within our constitutional rights to reposses this resource, that we could simply take back the Corrib gas field? Yes we can. Our constitution makes provision for it. So why, especially in such a time of economic distress, is this avenue not being investigated and debated? Something smells fishey. Something reeks. Does anybody else smell it, the unmistakeable odour of rot and corruption? Fester. Putrification. Plenty of words for it. But in the end they all mean the same thing. Our government is rotten.

Does anybody actually know for how much has the Corrib gas field been given away? I bet some of you do and i bet some of you are going to be very surprised to find out!!!

Sponge Bob

It is not free, you gotta spend €50m a pop drilling holes to find it !

Then you gotta build a big big pipeline to bring it ashore in Cork Harbour because all the rest of the coast is infested with crushties .

marabhfuil

Sponge Bob wrote: »

It is not free, you gotta spend €50m a pop drilling holes to find it !

Then you gotta build a big big pipeline to bring it ashore in Cork Harbour because all the rest of the coast is infested with crushties .

Ahh but the gas has already been found...
And more since has been discovered in the area too.
So why not invest in its exploitation and hence profit from its sale by far far more than we invested.

ps...you sound like a badly informed garda or else somebody who has his head firmly shoved up his h*l#

marabhfuil

Sponge Bob wrote: »

It is not free, you gotta spend €50m a pop drilling holes to find it !

Then you gotta build a big big pipeline to bring it ashore in Cork Harbour because all the rest of the coast is infested with crushties .

Whose talking bout Cark ye simpleton

Sponge Bob

marabhfuil wrote: »

Whose talking bout Cark ye simpleton

It is as I said Cork, a large town on the South Coast of Ireland and not Cark near Sellafield . Shoulda gone to Specsavers methinks .

colrow

What about the deepwater find i read about last year i think, 100 miles out from kerry, a deepwater find that exxonmobile is supposed to be financing, if i remember correctly

Sponge Bob

Bring that into Cork as well .

colrow

Nah i was thinking more somewhere like sneem

marabhfuil

Sponge Bob wrote: »

It is as I said Cork, a large town on the South Coast of Ireland and not Cark near Sellafield . Shoulda gone to Specsavers methinks .

I was slaggin off the accent boigh
obviously went over your head.

marabhfuil

colrow wrote: »

What about the deepwater find i read about last year i think, 100 miles out from kerry, a deepwater find that exxonmobile is supposed to be financing, if i remember correctly

Who should benefit from these resources? The Irish people or some ****ing prick over in texas who already has more money than the greedy bastard can spend!!!!!

marabhfuil

Sponge Bob wrote: »

It is as I said Cork, a large town on the South Coast of Ireland and not Cark near Sellafield . Shoulda gone to Specsavers methinks .

Let me get this straight. Answer me this question with a yes or no okay.
Do you have something against the people of Ireland exploiting and benefiting from their own natural resources?

ravima

Theres nothing to stop any Irish citizen applying for a licence and then drillingfor oil/gas. have you applied yourself?

Sponge Bob

What risks have we ever taken in order to earn a reward ??

You gonna tell us where to find a ghawar are you ??

marabhfuil

ravima wrote: »

Theres nothing to stop any Irish citizen applying for a licence and then drillingfor oil/gas. have you applied yourself?

What are you talking about!!! how the **** could any ordinary person ever afford to drill for ****ing oil in a sea man!!!!
I'm suggesting that our country take back our national natural resource so that we benefit.. Do you understand?

Sponge Bob

But we cannot benefit without drilling €50m holes in the seabed which may prove worthless . Where is that ghawar anyway ??

Cool Mo D

Really, we should spend a fortune trying to find stuff in the sea when there's only been a couple of small finds in 40 years? For example, the entire amount of gas in the Corrib field is less gas than Russia produces every 2 weeks - it's not exactly the bonanza.

And we are making making the money back - the state never has to pay a single cent on exploration, and all profits from Oil and Gas finds, including the Corrib field are taxed at double the normal rate into the exchequer.

And Norway started their industry by letting private industries have at it - it was only when they found seriously large amounts that they started Statoil. And so far we have only found small fields in Ireland, like Kinsale, or the Corrib, so it's not worth our while setting up a state company.

marabhfuil

Sponge Bob wrote: »

What risks have we ever taken in order to earn a reward ??

You gonna tell us where to find a ghawar are you ??

Man... whats your problem

If you dont want to debate then this go **** yourself

Its not about you or I.

This is about a multinational corporation that will end up profiting from the resources of our country while we have to buy our own gas back from them. now if you dont want to engage as to whether if anything should or could be done about it then piss off

marabhfuil

Cool Mo D wrote: »

Really, we should spend a fortune trying to find stuff in the sea when there's only been a couple of small finds in 40 years? For example, the entire amount of gas in the Corrib field is less gas than Russia produces every 2 weeks - it's not exactly the bonanza.

And we are making making the money back - the state never has to pay a single cent on exploration, and all profits from Oil and Gas finds, including the Corrib field are taxed at double the normal rate into the exchequer.

In fact your wrong. Shell etc have been given the right to wright off the expenses of the building of the process plant and oil rig etc and more off against their tax bill which should be being taxed at the rate you say but it is not going to be.

I havent the info on hand but its in the region of 10-12% of their disclosed profit is all they are going to have to pay

Sponge Bob

I will happily spend my last €50m on a ghawar , I have no problem with that.

You evidently have a problem with my not having a problem with that or else you suffer from Tourettes based on some of your prior utterances ....so either way you have a problem .

marabhfuil

Sponge Bob wrote: »

But we cannot benefit without drilling €50m holes in the seabed which may prove worthless . Where is that ghawar anyway ??

You just **** off okay.
If you dont want to talk about the Corrib gas field and its repossesion- Should it be or not okay.thats the topic

marabhfuil

Sponge Bob wrote: »

I will happily spend my last €50m on a ghawar , I have no problem with that.

You evidently have a problem with my not having a problem with that or else you suffer from Tourettes based on some of your prior utterances ....so either way you have a problem .

OOOHHH somebody used dirty words did they.
Yes i have a problem with the sort of idiocy that on a national scale can create such a country of deficients that the fact we are being robbed is beyond their comprehension. such an idiocy as you yourself seem to be exhibiting

Sponge Bob

marabhfuil wrote: »

You just **** off okay.
If you dont want to talk about the Corrib gas field and its repossesion- Should it be or not okay.thats the topic

Repossession by whom , The Killybegs Fishermen perhaps ??

marabhfuil

Cool Mo D wrote: »

Really, we should spend a fortune trying to find stuff in the sea when there's only been a couple of small ...

And Norway started their industry by letting private industries have at it - it was only when they found seriously large amounts that they started Statoil. And so far we have only found small fields in Ireland, like Kinsale, or the Corrib, so it's not worth our while setting up a state company.

Why should we not fully benefit from the exploitation of this field? Why should the profit derived not go directly to the Irish people?
We could actually reposses that field even though it is already tapped.
I see no excuse to not.

marabhfuil

Sponge Bob wrote: »

Repossession by whom , The Killybegs Fishermen perhaps ??

You really are part of the problem aren't you. I thought you were just being a prick.
I'm outta here

Cool Mo D

marabhfuil wrote: »

In fact your wrong. Shell etc have been given the right to wright off the expenses of the building of the process plant and oil rig etc and more off against their tax bill which should be being taxed at the rate you say but it is not going to be.

I havent the info on hand but its in the region of 10-12% of their disclosed profit is all they are going to have to pay

Yes, all companies can do this. Profit is the money left over after you've built all your plant and paid for everything, so obviously they won't be able to be taxed on profit until the cost of their facility is accounted for. They will still be paying double the normal corporation tax.

And why would it be worth setting up a national oil/gas company when very little oil and gas has been found in Ireland? The Corrib field is not a big find, and there have only been 2 small finds in the last 40 years or so. It's hardly worth setting a company up for.

The only way for the country to make money on a national gas and oil company is to have it so that the cost of running the company and exploring our seas and extracting and refining the gas and oil would be less than the net profit made by a foreign company. That requires large proven amounts of oil and gas under the sea, and Ireland does not have large proven gas and oil reserves under the sea, even though people have been looking for decades.
It is a better deal for Shell to pump our gas, and us to tax them, because it saves us the cost of setting up a company and it learning how to operate from scratch, when Shell already has the knowledge and experience in how to do it.

Even if we did have a national company we would still be paying them for oil and gas, the same as we're paying shell, it would be no benefit to the consumer paying for gas.

Sponge Bob

marabhfuil wrote: »

I'm outta here

Leave your ghawar behind before you go, theres a good lad. I will PM you the Specsavers voucher code on Politics.ie where we will inevitably find you next

old boy

marabhfuil wrote: »

You really are part of the problem aren't you. I thought you were just being a prick.
I'm outta here

op, go back to sleep, when you wake up please take all you prescribed medication.

nesf

marabhfuil wrote: »

You just **** off okay.
If you dont want to talk about the Corrib gas field and its repossesion- Should it be or not okay.thats the topic

As I said in the other thread of yours, any more of the above and you'll be banned from this forum.

irish_bob

marabhfuil wrote: »

I, and not I alone, do find the reasoning behind the practical wholesale giveaway of the Corrib gasfield, off the coast of Mayo, to Shell Statoil and Marathon oil companies quite an extraordinary act of national traitorism and equally befuddling is the almost complete and utter disinterest in the deal done by our government by both the Irish public and media in the main.

Norwegian health and social welfare makes Irelands look like a third world nation in comparison and it is a well known fact that the Norwegians, thanks to the shrewd actions taken on behalf of their nation by their government at the time that deposits of natural gas and oil were discovered within their sovereign territory by setting up a national state oil company in Statoil, would not have the top class model of social services that they benefit from today.

The Corrib gas field off the Mayo coast is estimated to by worth in the region of 51,300,000,000 euros. Fifty one point three billion euros. Or fifty one billion three hundred million euros. Whatever way you write or look at it that is a considerable amount of money. That would go a fair way dealing with the current crisis would it not?

Why has the Irish government made the decision not to start up our own state owned gas company? Why not invest in the equipment and expertice to do so and keep the profit made for the people of Ireland. Why not invest a Billion in the starting of a company and reap the benefit for generations to come? Strange dealings have been done. Shadowy figures are invoved. Dead ends and hollow excuses surround this whole thing entirely. The political debate is mute. But why?

Do you know that it is within our constitutional rights to reposses this resource, that we could simply take back the Corrib gas field? Yes we can. Our constitution makes provision for it. So why, especially in such a time of economic distress, is this avenue not being investigated and debated? Something smells fishey. Something reeks. Does anybody else smell it, the unmistakeable odour of rot and corruption? Fester. Putrification. Plenty of words for it. But in the end they all mean the same thing. Our government is rotten.

Does anybody actually know for how much has the Corrib gas field been given away? I bet some of you do and i bet some of you are going to be very surprised to find out!!!

ireland already has an extremley generous social wellfare system and we spend a fortune on health , only problem is our nurses and doctors decided a long time ago they wanted all the money spent on thier wages as opposed to beds, add to that , the army of surplus pen pushers who,s only reason for employment in the hse is so the local fianna fail td continues to top the poll

turgon

Ah yes. The easy, I cant see further than the tip of my nose, just take all the oil and we'll be loaded. Sure look at the cost of it at the pumps, its gotta be worth something.

Being realistic, the government had two options:

1. Charge a 50% levy on all profits made from the oil, on top of the other taxes on oil. No company would have come here because it would have been to expensive. Total tax take = €0.
2. Get rid of the 50% levy. Charge 12% corporation tax, get loads of income tax from workers ( gas workers make loads) and get some employment going down in Corrib. Total tax take = €millions and millions.

Of course the Shell-to-Sea etc campaigners dont understand that lower tax rates sometimes equals higher tax take. Such thinking would be a bit too much for them, better to throw abuse at the Gardai.

And this farce that the government could take the oil, and we will be as great as the Scandinavians. What do these campaigners have to say to the fact that we have virtually no gas in comparison to the Norwegians? Usually nothing, they just throw abuse again.

TheInquisitor

For the most profitable fields in ireland companies will have to pay a tax rate of 40% on profits. I can't believe we're lucky enough to get that out of companies since there's feck all natural resources in ireland compared to otehr countries and it costs a load to drill for them because all of the gas/ oil is off the coast in the atlantic! It would cost a fortune to set up a National resource company, decades to learn the expertise and even then the cost wouldn't be worth the benefit because ireland has crap all oil/gas.

By the way the value of the corrib gas field is max 10 billion. It is theorised that other fields in the area could bring the value up to 30-50 billion but that is just guesswork and will cost billions to prove and expolit