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New Tax on Oil and Gas Exploration
Read more about: Energy, Green Party
The greens are continuing being the busiest people in the cabinet. This time it Eamon Ryan’s turn to do something. A new tax of 15% on profitable Gas and Oil finds in Ireland. Not a bad move. Certainly not exorbitant and in the era of high oil prices probably not enough to scare the oil companies off. Although it will remain to see how of these extra taxes end up being paid by the consumer. But with many countries such as Norway considering dropping their taxes on oil we have to make sure that we don’t price ourselves out of the market. I have written about Oil and Gas before
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