FIANNA Fáil Spokesperson on Communications, Energy and Natural Resources, Michael Moynihan TD, says the Government needs to act quickly to maximise revenue from the Barryroe oil fields off the Cork coast. [Read more...]
CORK Workers’ Party Councillor Ted Tynan has welcomed the discovery of the first proven commercial oil well off the County Cork coast but has said that development of the resource must be based locally and the financial and jobs benefits should come to the people of Ireland, not multinational oil companies.
Cllr Tynan said that the Irish state should be undertaking its own oil and gas exploration and development of proven resources.
The recovery of these resources should be based in Cork.
Sinn Fein would like us to think that there is a crock of black gold at the end of the rainbow, that is being ignored by Government, but in reality, there is no such thing.
SINN Féin TD Jonathan O’Brien TD has called for the implementation of a new licensing and taxation regime for oil and gas exploration off our coasts, saying access to a fair share of these revenues by the state could help economic recovery.
Speaking in support of a Sinn Féin motion on the issue in Leinster House, Deputy O’Brien said, “A report prepared for the Department of Energy estimates there could be 10 billion barrels of oil off Ireland’s coasts. We already know there are significant gas finds at the Corrib and Lough Allen fields. Yet as things stand, the benefits of exploiting these resources will go to multinational companies, not the Irish people.