Major Oil find on Irish waters

Not even on RTE, i actually thought we signed something away as well?

One can always rely upon the British Broadcasting Corporation.

http://news.bbc.co.uk/today/hi/today/newsid_9758000/9758684.stm

Had little or no effect on Providence share price today.  I guess the news was expected and priced in.

Field off Cork coast is expected to yield 28 billion at todays market prices,thankfully its Irish/UK company Providence Resourses rather than Shell that has it.Hopefully will at least create jobs particulary if Whitegate refine it.

at last , maybe , just maybe , a turning point for our economy....

No way will this oil be going into Whitegate, its almost certain that whatever comes up will be shipped to England. Mr. Rabbitte has sold this out so nil benefit to Irish taxpayers.In fact the Companies involved will be taxed, but only on net profits, allowing them to manufacture costs willy-nilly to keep tax payments to Irish Government low.And I say manufacture costs in similar way that TD's and other Oireachtas members were at it during August. One member drew more than 5K when the Dail,and Seanad were actually closed. Now 5k in travel costs, thats alot of driving any year, but in a month ? come on!!!!!!!!! but its paid , no questions asked...........Oil find will not benefit Irish taxpayers, we have been sold out again..............dont hold your breath.

LOL at wonker......what a fukkin gobshiite.....turning point my hole.....the wonker is watching too much Dallas.....

PMSL run by Tony O'Reilly..........yeah the guardian of irish finance

Tonys son is actually in charge no? should end up in bankruptcy in 2-4 years i expect

easy bobby,pp pa will be along any minute to curtail yre activities....

booby , the rat , father and son no doubt....

right on cue,thats the 1st of the trinity

plenty of poison dwarfs

JayTrump

I think you might find all companies trading here are taxed on their net profits so I don't know why you are highlighting it in bold.

With regard to licencing fees I find it interesting that you target Minister Rabbitte and conveniently ignore the deals done by a couple of Ministers in your beloved previous Fianna Fail/Green/PD government...At least I think we can be reasonably sure Pat Rabbitte did not benefit personally from the setting of the fees....

Why is this not being reported in Ireland ?  Here is the report in the wall street journal
http://online.wsj.com/article/SB10000872396390443749204578047842645557974.html

The main culprit in the Irish oil giveaway is Ray Burke,we all know his murky past but strangely no one has repealed his crooked deal and that includes Pat Rabbitte.

Wildman,

How do you repeal it?

Repeal it in the Dail although I am sure the lads with wigs will tell them it can't be done,failing that go the unclean hands route.
It's like these obscene payouts and pensions being given,when challenged they claim contract yet they are well able to break others contracts,the truth is they don't want to change the pension rules and huge lump sums as they will be receiving them in the next few years.

Don't think you can change any contract already signed.

Too much importance based on contracts, there are ways and means of breaking any contract without repercussions. Perhaps the wrong people are in charge for these times.

Think you should be plying your trade in the Four Goldmines newco......or maybe you are!!

http://www.guardian.co.uk/commentisfree/2012/oct/11/ireland-oil-discovery-irish-people?newsfeed=true

The above link sums it all up in a nutshell.