Irish Election are pleased to announce our collection of Irish 
Gas again
A while back the Corrib Gas was a big topic here and here. But is it going to come back? Frank Little of the Ceder Lounge brings the topic back with response to a story in the Tribune that Statoil is looking at a new field in Mayo possibly bigger then Corrib. For such a big issue in Ireland the amount of dis-information about it is surprising. Read Indymedia and you would think that Ray Burke was bribed to remove the royalties from Gas exploration. When in fact most countries with more gas then us had removed royalties before us. The way the likes of Norway make their income is from corporation taxes. I have talked about this before in much greater detail with my argument in favour of the governments policy. But the question is. Do people care and will it dictate your voting?
Read Indymedia and you would think that Ray Burke was bribed to remove the royalties from Gas exploration.
Against all the rules of public administration, Charles Haughey and Ray Burke met in secret, (without any other government representative present), with oil company representatives and concluded a deal the details of which are still not known to this day.
On the very same day, in January 1993, that subsequent legislation governing the issuing of exploration licences came into force, Enterprise Ireland applied for a license for the exploration of the Corrib field. Statoil, also on the same day, applied for four exploration
licences. What amazing foresight they must have had - or perhaps they knew something the rest of us did not?
When in fact most countries with more gas then us had removed royalties before us. The way the likes of Norway make their income is from corporation taxes.
Simon, that’s very disingenuous. Statoil is a stat[e]oil company*. The Norwegian state is increasing its stake in the newly formed Statoil/Norsk Hydro entity making it the biggest offshore oil company in the world.
Worldwide over 90% of all oil gas production is led by indigenous and government controlled oil or gas, operating and finance companies.
In an Irish Times article last year the chairman of the Irish Offshore Operators’ Association stated that “crucially, in order to encourage continued exploration, the Norwegian government refunds around 78 per cent of the costs of unsuccessful exploration”.
However this is balanced by a government take in the region of 78 per cent.
*
http://en.wikipedia.org/wiki/Statoil
“Statoil (OSE: STL, NYSE: STO) is a Norwegian petroleum company established in 1972. It is the largest petroleum company in the Nordic countries and Norway’s largest company. While Statoil is listed on both the Oslo Stock Exchange and the New York Stock Exchange, the Norwegian state still holds majority ownership, with 70.9%. The main office is located in Norway’s oil capital Stavanger. The name Statoil is a truncated form of the State’s oil.”
[.....]
“On December 18, 2006 Statoil and Norsk Hydro announced Statoil’s plan to buy Norsk hydro’s oil and gas activities which would create the world’s largest off shore oil and gas operator. Upon the completion, Statoil-Hydro will have a total output of 1.9 million barrels per day. The name of the company is yet to be decided, but the interim name “StatoilHydro” is to be used until the name is formally approved in the Shareholders’ meeting in 2008
Statoil shareholders will obtain two-thirds of the new company as a result of the transaction, with the balance held by Hydro’s shareholders. The Norwegian Government, the biggest shareholder in both companies, approves the planned merger, and is indeed expected to increase its shareholding in Statoil-Hydro from 62% to 67% [1]. Jens Stoltenberg, the Norwegian Prime Minister commented that he views the proposal as “the start of a new era. We are creating a global energy company and strengthening Norway’s oil and gas industry” [2].”
also, see the Irish Times article
Fintan O’Toole on Statoil and FF’s Corrib Shame
http://www.indymedia.ie/article/71736
On the very same day, in January 1993<>
Royalties were dropped in 1987
Simon, that’s very disingenuous. Statoil is a stat[e]oil company*. The Norwegian state
About 2.5% of the total Norwegian revenue from oil is from divides from Statoil (2004 figures). The tax take is far greater it .
http://www.regjeringen.no/upload/kilde/oed/bro/2005/0005/ddd/pdfv/243911-fact_og_05_kap_07.pdf
So I really don’t see how it is disingenuous. Did you read my post I linked to a lot more details facts and links in that.
By the way the reason the post was caught in moderated was do to our spam catcher.