Ireland Strikes Oil off Cork - Recession Over!

Run_to_da_hills · 15-03-2012 11:58AM

Anything of value we have will be foolishly handed over to the EU just like our fishing rights etc.

Rhys Essien · 15-03-2012 11:59AM

Tonyandthewhale wrote: »

3514 barrels a day at 100e a barrel (rough guess) is 351,400e a day or 128,261,000e a year gross. Considering you have to take a huge chunk of over-heads off before you even get to the point where you can take a mere percentage of that as tax income then I'm not sure this spells the end of the recession for everybody.

Still good news I suppose though.

Is that not only with one oil rig.If they get 10 rigs drilling,does that figure not multiply by 10?

Duggys Housemate · 15-03-2012 12:00PM

If Cork does secede I can volunteer to help build the Fence.

Plazaman · 15-03-2012 12:01PM

I Heart Internet wrote: »

Oh yeah, no, Statoil is Norwegian.

Norweigians ? :eek: They be worser and worser. They're the equivilent to gandland cousins of the Swedes.

smash · 15-03-2012 12:01PM

Duggys Housemate wrote: »

If Cork does secede I can volunteer to help build the Fence.

All the way around Cork and cut it off from the rest of Ireland?

Win/Win situation!

Duggys Housemate · 15-03-2012 12:02PM

Or better yet, a wall.

EDIT:

Large wall, sunken Fence, 3 mile wide moat, and another large wall is my best offer.

blaze1 · 15-03-2012 12:03PM

Thats great news.

But knowing the way this country is run, it will probobly still be cheaper to import it from saudi.

I can just Enda starting to drive around in platinum cars and declaring himself as an oil shiek.

faceman · 15-03-2012 12:04PM

We only get a small tax cut from that oil field, the rate needs to be hiked to 80%/90% IMO. (Similar to Norway)

Duggys Housemate · 15-03-2012 12:05PM

AND NO BRIDGES!! They can take the ferry to Hollyhead, and from there to Wexford, passport permitting.

Duggys Housemate · 15-03-2012 12:05PM

faceman wrote: »

We only get a small tax cut from that oil field, the rate needs to be hiked to 80%/90% IMO. (Similar to Norway)

yeah, lets do that for oil exploration in uncertain waters. See how that works out for us.

fishy fishy · 15-03-2012 12:06PM

blaze1 wrote: »

Thats great news.

But knowing the way this country is run, it will probobly still be cheaper to import it from saudi.

I can just Enda starting to drive around in platinum cars and declaring himself as an oil shiek oily sh*te.

fyp

dulpit · 15-03-2012 12:07PM

Duggys Housemate wrote: »

AND NO BRIDGES!! They can take the ferry to Hollyhead, and from there to Wexford, passport permitting.

Why would we want to go to either Holyhead or Wexford... Cork has it all...

Rhys Essien · 15-03-2012 12:09PM

The government should now be on their way to Norway to find out how to setup and run a state oil company.(Ministry for Oil)

We have a lot of oil around the country but will end up losing a lot of it to private companies.

Now is the time for them to get the finger out.

I Heart Internet · 15-03-2012 12:10PM

Rhys Essien wrote: »

Is that not only with one oil rig.If they get 10 rigs drilling,does that figure not multiply by 10?

There'll normally only be one producing platfrom (rig) with several wells out like spider's legs from it. The test well was vertical and allowed the oil to come out under natural pressure. Producing wells would likely be slanty (to use the technical term :rolleyes:) and possible extract it under pressure. Only the producers can say (once they do all the sums) how much per day it could produce with a certain number of wells. Of course, the faster you extract it, the faster you empty (or effectively empty) the reservoir.

flanzer · 15-03-2012 12:10PM

https://www.youtube.com/watch?v=wLCBQB1JCsg

I Heart Internet · 15-03-2012 12:11PM

Rhys Essien wrote: »

The government should now be on their way to Norway to find out how to setup and run a state oil company.(Ministry for Oil)

We have a lot of oil around the country but will end up losing a lot of it to private companies.

Now is the time for them to get the finger out.

How will we fund this state oil company???

token101 · 15-03-2012 12:15PM

Duggys Housemate wrote: »

AND NO BRIDGES!! They can take the ferry to Hollyhead, and from there to Wexford, passport permitting.

Why would we want to leave Cork? And if some extraordinary reason we did, would we the f*** would we want to go via Wexford? Do you wade through a river of sewerage when your leave your house? Jesus boy think that over now!

All we need here in Cork is our oil and maybe a Starbucks, and when we get that ye can f***ing have yer recession. YEEEE HAAAAW!!!!

ArmaniJeanss · 15-03-2012 12:17PM

I Heart Internet wrote: »

How will we fund this state oil company???

By the money we get from letting other companies do all the exploration, and then taking it off them when they find oil, or upping the tax rate to 95% when they get it to shore.

Simples really, those stupid exploration companies will fall for this every time apparently.

R0ot · 15-03-2012 12:20PM

I Heart Internet · 15-03-2012 12:36PM

ArmaniJeanss wrote: »

By the money we get from letting other companies do all the exploration, and then taking it off them when they find oil, or upping the tax rate to 95% when they get it to shore.

Simples really, those stupid exploration companies will fall for this every time apparently.

They will, they'll keep coming back doing our exploration for nothing and we take all the profits. Cos Ireland is the centre of the oil universe don't ya know.

Paparazzo · 15-03-2012 12:52PM

Rhys Essien wrote: »

The government should now be on their way to Norway to find out how to setup and run a state oil company.(Ministry for Oil)

We have a lot of oil around the country but will end up losing a lot of it to private companies.

Now is the time for them to get the finger out.

The difference between up and Norway, is Norway has a shíte load of oil and gas. They did it the exact same way as us. Cheap for companies to explore, once the word is out that there's loads of resources, other companies come in and you can tax them massively.
Thing is, in Ireland, we do it like that and when the first couple of companies find oil, we go mental with the government for "giving it away" and the rent a crowd head down to protest.

Stiffler2 · 15-03-2012 01:07PM

Here's what should happen :

the oil well should be sold off directly to the ECB / IMF for exactly 178billion or the figure we owe to the ECB / IMF. This will clear all Irish debts immediately.

A curfew should be put in place with martial law around the oil well.
Any protesters should be shot or have their dole removed.

A letter should be sent to Murkel and so cosy telling them that we the Irish have struck oil and to stick their austerity budgets and EU policies up their german and french ass's.

After this is completed we should then step away from the Euro & EU altogether. We don't want another kuntree like Greece taking us out becuase we are in the same system.

Revert to our punt, reduce our corporation tax further to piss off the EU and profit ??

Spacedog · 15-03-2012 01:09PM

Paparazzo wrote: »

The difference between up and Norway, is Norway has a shíte load of oil and gas. They did it the exact same way as up. Cheap for companies to explore, once the word is out that there's loads of resources, other companies come in and you can tax them massively.
Thing is, in Ireland, we do it like that and when the first couple of companies find oil, we go mental with the government for "giving it away" and the rent a crowd head down to protest.

That's not the truth...

Norway actively discouraged oil exploration and development to protect their dominant industry: fishery. when they finally decided to develop their resources, they already knew they had oil, and there was likely to be a lot more (considering the large area of their territorial waters.) they set up a state owned oil company - Statoil, and profited greatly from their resources.

nelly17 · 15-03-2012 01:15PM

Stiffler2 wrote: »

Here's what should happen :

the oil well should be sold off directly to the ECB / IMF for exactly 178billion or the figure we owe to the ECB / IMF. This will clear all Irish debts immediately.

A curfew should be put in place with martial law around the oil well.
Any protesters should be shot or have their dole removed.

A letter should be sent to Murkel and so cosy telling them that we the Irish have struck oil and to stick their austerity budgets and EU policies up their german and french ass's.

After this is completed we should then step away from the Euro & EU altogether. We don't want another kuntree like Greece taking us out becuase we are in the same system.

Revert to our punt, reduce our corporation tax further to piss off the EU and profit ??

Ah yes but if you do that a bomb will go off somehwere in town!

ArmaniJeanss · 15-03-2012 01:16PM

Stiffler2 wrote: »

Here's what should happen :

the oil well should be sold off directly to the ECB / IMF for exactly 178billion or the figure we owe to the ECB / IMF. This will clear all Irish debts immediately.

A curfew should be put in place with martial law around the oil well.
Any protesters should be shot or have their dole removed.

A letter should be sent to Murkel and so cosy telling them that we the Irish have struck oil and to stick their austerity budgets and EU policies up their german and french ass's.

After this is completed we should then step away from the Euro & EU altogether. We don't want another kuntree like Greece taking us out becuase we are in the same system.

Revert to our punt, reduce our corporation tax further to piss off the EU and profit ??

Congratulations, the single most clueless post in the history of boards.

Paparazzo · 15-03-2012 01:18PM

Spacedog wrote: »

That's not the truth...

Norway actively discouraged oil exploration and development to protect their dominant industry: fishery. when they finally decided to develop their resources, they already knew they had oil, and there was likely to be a lot more (considering the large area of their territorial waters.) they set up a state owned oil company - Statoil, and profited greatly from their resources.

Ah right. There was a norwegian guy on the radio a while back who knew about the industry, he was saying ireland are doing what is absolutely standard internationally. I thought he said Norway did it similar back in the day. I stand corrected on that bit!

Lone Stone · 15-03-2012 01:20PM

I bet the government sell it for like 50 euro

Stiffler2 · 15-03-2012 01:21PM

ArmaniJeanss wrote: »

Congratulations, the single most clueless post in the history of boards.

er durka durka, backa dacka lacka ?

Fran1985 · 15-03-2012 01:23PM

Stiffler2 wrote: »

Here's what should happen :

the oil well should be sold off directly to the ECB / IMF for exactly 178billion or the figure we owe to the ECB / IMF. This will clear all Irish debts immediately.

A curfew should be put in place with martial law around the oil well.
Any protesters should be shot or have their dole removed.

A letter should be sent to Murkel and so cosy telling them that we the Irish have struck oil and to stick their austerity budgets and EU policies up their german and french ass's.

After this is completed we should then step away from the Euro & EU altogether. We don't want another kuntree like Greece taking us out becuase we are in the same system.

Revert to our punt, reduce our corporation tax further to piss off the EU and profit ??

Did you mean "Country" when you said "Kuntree"?

Also, the government is asking us to show entreprenuerial spirit. They should lead by example, and visit the Norweigians for talks on whether its viable or not for us to go for it. Take advice from people who've done well out of it. Would it be mad to presume this has already been done by one form of government?

Balmed Out · 15-03-2012 01:29PM

I do think this could result in civil war. Not petween Cork and the 25 lesser counties which to be fair after pretty much bringing the British empire to their knees all on our own would be simplicity personified but between West Cork and the rest of Cork.
Those uppity so and so's have I believe been waiting for the day when they would have the financial option of becoming independant.
When asked where their from they never ever say Cork they always have to specify West Cork, the snobby gits.

Ireland Strikes Oil off Cork - Recession Over!

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