Will we see any money from this?

iamstop

Huge amounts of oil expected off Dalkey
http://www.independent.ie/business/record-oil-price-fuels-surge-in-drilling-2614975.html

Will Ireland as a nation (not just the top 1%) benefit?

baldbear

Nah Pat Kenny will fence it off and claim it as part of his garden.

PeterIanStaker

"[FONT=Verdana, Arial, Helvetica, sans-serif]But fumble in a greasy till
And add the halfpence to the pence
And pray to shivering prayer, until
You have dried the marrow from the bone."

[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif] - W. B. Yeats, September 1913[/FONT]

Biggins

What we will see will be a token % amount compared to what is taken out in wholesale actual accumulative crude value.

Sykk

Pat Kenny will get a pay rise along with a few new government jets here and there.. Will we see any of it? Don't be silly

Benny_Cake

In completely unrelated news, share prices in the Bono Slant Drilling Company have rocketed...

Krusader

Would rather see billions paid for exploration of this than given to foreign bond holders

chin_grin

PeterIanStaker wrote: »

"[FONT=Verdana, Arial, Helvetica, sans-serif]But fumble in a greasy till
And add the halfpence to the pence
And pray to shivering prayer, until
You have dried the marrow from the bone."

[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif] - W. B. Yeats, September 1913[/FONT]

Looks like we got ourselves a reader!

EL_Loco

hopefully they'll negoiate a better cut if they bring in a company with the expertise to extract it. Basically what they should have done with Shell.

MidlandsM

no...but BP or Shell or some ***** like that will.

AckwelFoley

Ireland needs to be able to get as much return from its natural resources as possible.

It comes down to cost - benefit ratio. How much it wil cost the oil firms to explore and extract, and any money thy will have to pay the state for the oil.

This i know little about, but if it were easy we'd all be at it

cosmicfart

iamstop wrote: »

Huge amounts of oil expected off Dalkey
http://www.independent.ie/business/record-oil-price-fuels-surge-in-drilling-2614975.html

Will Ireland as a nation (not just the top 1%) benefit?

I doubt it. The bankers will steal it all on us again after giving loads of money to the oil developers to build the oil rigs and then everyone will blame the Civil service for some strange, scapegoat reason.

mikemac

The NIMBY's in that area wouldn't let anything be built. Might spoil their view

sensibleken

PeterIanStaker wrote: »

"[FONT=Verdana, Arial, Helvetica, sans-serif]But fumble in a greasy till[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif] And add the halfpence to the pence[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif] And pray to shivering prayer, until[/FONT]
[FONT=Verdana, Arial, Helvetica, sans-serif] You have dried the marrow from the bone." [/FONT]

[FONT=Verdana, Arial, Helvetica, sans-serif] - W. B. Yeats, September 1913[/FONT]

The fecking epitaph of Ireland

Lapin

iamstop wrote: »

Huge amounts of oil expected off Dalkey

What time?

Fratton Fred

Is there actually oil there or is it just a company trying to talk up their share price?

Highly Salami

Biggins wrote: »

What we will see will be a token % amount compared to what is taken out in wholesale actual accumulative crude value.

The what with the which now? This is After Hours, right?

cocoshovel

We will some how fúck it up and get nothing for it.

iamstop

Wow, very pessimistic outlook by most people here. I suppose it's only right just judging from the last government but no gold at the end of the rainbow?

Krusader

cocoshovel wrote: »

Politicians will some how fúck it up and get nothing for it.

Fixed

Ruu_Old

Brb, invading Americans.

PeterIanStaker

EL_Loco wrote: »

hopefully they'll negoiate a better cut if they bring in a company with the expertise to extract it. Basically what they should have done with Shell.

This govt learn from the mistakes of the last?


HAHAHAHHAHAHAHAHAHA

WIZE

So why cant the government set up its own oil company . hire drillers from the US get the oil out , sell it and cover the expenditures then pump the rest of the money into the exchequer . put the corp tax to 0 to piss off the germans and french.

sock puppet

Fratton Fred wrote: »

Is there actually oil there or is it just a company trying to talk up their share price?

True a company is hardly gonna say "Yeah there's fuck all chance of us finding anything. Now invest in us please."

landsleaving

iamstop wrote: »

Wow, very pessimistic outlook by most people here. I suppose it's only right just judging from the last government but no gold at the end of the rainbow?

Maybe in the leprechaun museum.

dagdha

The big wigs from Europe will be the first ones in to screw us over with the saying - whats mine is mine and whats yours is mine! Though sh*t little Irish people and thank you for your oil.

questionmark?

WIZE wrote: »

So why cant the government set up its own oil company . hire drillers from the US get the oil out , sell it and cover the expenditures then pump the rest of the money into the exchequer . put the corp tax to 0 to piss off the germans and french.

Predator_

iamstop wrote: »

Huge amounts of oil expected off Dalkey
http://www.independent.ie/business/record-oil-price-fuels-surge-in-drilling-2614975.html

Will Ireland as a nation (not just the top 1%) benefit?

Our politicians bar a few are idiots who dont care about the people of this country, so no, it will be given to foreign companies.

PeterIanStaker

If they did strike oil, all the Shell to Sea crusties would move to Dalkey to protest, it would be hilarious:

"Charles, Charles, there appears to be unkempt urchins in the vicinty of our patio furniture, and one of them is smoking what appears to be a very large cigarette . . . shall I telephone the constabulary?"

dagdha

Every silver lining.....

If there is oil there and they manage to extract it all the money will probably go to pay off the IMF and here I was thinking we were going to turn into the next Dubai and we'd all be driving around in our Lambos and Ferraris on our little windy roads:pac: *Sigh* And we would of had enough money to actually build a roof over the country... sure would'nt it be a lovely little country if you could only roof it:pac:

syklops

WIZE wrote: »

So why cant the government set up its own oil company . hire drillers from the US get the oil out , sell it and cover the expenditures then pump the rest of the money into the exchequer . put the corp tax to 0 to piss off the germans and french.

The Luas Cherrywood extension cost 300 million euro. That was a small bit of track above ground that needed to be laid. Imagine what laying pipes on the bottom of the seabed would cost?

I actually agree with the policy of letting experienced companies drill it, and give us a percentage if there is any oil. If there isnt, or if after installing a multi million plant it runs out after a week the country loses not a jot.

PeakOutput

iamstop wrote: »

Huge amounts of oil expected off Dalkey
http://www.independent.ie/business/record-oil-price-fuels-surge-in-drilling-2614975.html

Will Ireland as a nation (not just the top 1%) benefit?

nothing has been found according to that article they are all estimates of what might be out there nothing is definite

AlmightyCushion

WIZE wrote: »

So why cant the government set up its own oil company . hire drillers from the US get the oil out , sell it and cover the expenditures then pump the rest of the money into the exchequer . put the corp tax to 0 to piss off the germans and french.

Because they don't actually know what is there, they'll only find out when they start drilling. There could well be feck all oil and gas there and if the government spent billions drilling off the coast and found nothing there'd be uproar. Better off letting the oil companies do all the drilling and take all the financial risk while we just take a 25-40% cut of the profits if there is something there.

PeakOutput

also for people saying the goverment should set up an oil company and get it out themselves

1. nothing has been found yet

2. if the goverment did set it up and spent money on it and found nothing there would be ****ing bedlam from the very people who are suggesting setting up the company in the first place because the exploration would have cost so much

3. number 2 is the reason that we auction off the rights to an area and then tax the profits of the companies if oil is found. the companies take the risk by buying the rights and spending the money on the exploration they deserve the lions share of the profits

AlmightyCushion

PeakOutput wrote: »

also for people saying the goverment should set up an oil company and get it out themselves

1. nothing has been found yet

2. if the goverment did set it up and spent money on it and found nothing there would be ****ing bedlam from the very people who are suggesting setting up the company in the first place because the exploration would have cost so much

3. number 2 is the reason that we auction off the rights to an area and then tax the profits of the companies if oil is found. the companies take the risk by buying the rights and spending the money on the exploration they deserve the lions share of the profits

Exactly, some people seem to think we're the next Norway when they start talking about our oil and gas reserves.

Micky Dolenz

So the word on the street is that we are the next Norway, is that true?

:P

PeakOutput

Micky Dolenz wrote: »

So the word on the street is that we are the next Norway, is that true?

:P

its actually FACT, we will be delivering half a billion barrels of crude a day by june and out of recession and back to the high life by august

Eric Cartman

was going to say INB4 shell2sea nutjobs, too late...

CreepingDeath

NOW we're in a position to default on the banking debt, and have income from the oil

WIZE

but what if there is billions of dollars worth of oil there ye seem happy for other countries to reap the rewards while we get screwed.

im sure geologists and other specialists could survey and tell if there would be oil . this country should give an oil company a smaller share to help extract it.

deise go deo

I for one welcome our new American overlords.

partyatmygaff

WIZE wrote: »

but what if there is billions of dollars worth of oil there ye seem happy for other countries to reap the rewards while we get screwed.

im sure geologists and other specialists could survey and tell if there would be oil . this country should give an oil company a smaller share to help extract it.

If it were that easy, it would have been done.

AlmightyCushion

WIZE wrote: »

but what if there is billions of dollars worth of oil there ye seem happy for other countries to reap the rewards while we get screwed.

im sure geologists and other specialists could survey and tell if there would be oil . this country should give an oil company a smaller share to help extract it.

How are we getting screwed? We get 25-40% of the profits made. If some big fields actually do get discovered and deliver the goods, then we can increase that.

WIZE

partyatmygaff wrote: »

If it were that easy, it would have been done.

Ireland make everything complicated for ourselves