Taxed to the hilt

Andrewf20

We should count ourselves fairly lucky living in Ireland. Many countries in the world are a hell hole by comparison. We are in the teens in the world happiness index rankings and 2nd in world in the human development index.

Cyrus

https://www.boards.ie/discussion/comment/118355401#Comment_118355401

i agree.

Podge_irl

https://www.boards.ie/discussion/comment/118355292#Comment_118355292

Please share the evidence of where these well were "proven" to be very viable.

McGiver

https://www.boards.ie/discussion/comment/118355386#Comment_118355386

Yeah so you agree with me, glad to hear it 😎

I consider the (3) the biggest issue in Irish public discourse as it's influencing policy. It blocks any serious tax reform discussion and deployment "'cause taxes are high". The only way for taxes hence is the reduction. Which doesn't square up with public services and especially infrastructure deficit ROI has accumulated. Infrastructure really isn't on Western European or even wider EU average level here and there's no way you can effectively invest if you keep reducing taxes.

If people can't calculate their effective tax rate (1-(net salary/gross salary)*100), then there's some issue somewhere...

monseiur

https://www.boards.ie/discussion/comment/118356031#Comment_118356031

I'm unable to attach links but here is a small example ; Company : Providence Resources

Licence : Standard Exploration Licence No. 1/11

Site : Ballyroe (50Km off the Cork coast)

An extract from the report states that ' In March 2012 results from a sixth well drilled 7m. deep showed a flow rate which far exceeded pre drill expectations with rates in excess of 3,500 BOPD (Barrels of oil per day) Post well analysis in conjunction with new 3D seismic data set, led to a substantila upgrade in the field size to 1 billion barrels STOIIP - (this a method of estimating how much oil in a resevoir that can be economically brought to the surface)

One billion barrels of oil @ say $70.00 per barrel is $70 Billion that is viable in any currency !.......and that's just one oil field and the tip of a very big iceberg (or oilberg !)

28064212

https://www.boards.ie/discussion/comment/118356955#Comment_118356955

The estimated recoverable amount from that field is 311 million barrels (or the equivalent of 346 million if you include the related natural gas deposits), not 1 billion, as per the independent audit. It's now ten years since the well was discovered, how much oil has it produced? And that's in private hands, I can't imagine how much slower it would be if the Irish state had nationalised the oil and gas exploration industry. In fact, this field has been explored since the 70s, and this is the first well that has had any economically viable numbers. How much would it have cost the state for all the misses?

monseiur

https://www.boards.ie/discussion/comment/118357236#Comment_118357236

You ask for evidence of where these wells were proven to be viable, I provided one random sample - there are many more but I won't waste any more of my time on you - as the saying goes 'There's non so blind as those who refuse to see'

L1011

https://www.boards.ie/discussion/comment/118360751#Comment_118360751

The only one that looks semi viable and yet isn't being exploited is a very unlikely "random" choice.