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Oct 2010 1) General (Closed) Forum

237 votes

Re-enact Justin Keating 1975 legislation on oil and gas and extend this to all OUR natural resources

What sort of Ireland we wish to live in. Will it be all about the financial benefit to the few or the maximum benefit to the People of Ireland.
We believed till recently that the cuts are necessary as the country is in a financial crisis but the truth is Ireland is one of the richest countries in the world in terms of natural resources, Zinc, Lead Gold, Gas and Oil.
The Division of the Department of Communications, Energy and Natural Resources state:
“In terms of tonnes of zinc discovered per sq km, Ireland ranks 1st in the world.”
According to oil experts the Corrib field and the Dunquin prospect, are collectively worth at least €400 billion. The Dunquin oil and gas reserve alone could “transform the energy requirements of Western Europe” Tony O’Reilly Junior, Providence Resources.
Finance Act 1999 set corporation tax 12.5% on the profits of OUR natural resources. In addition a raft of tax concessions are available in some cases up to 120% of expenditure.
It’s not enough to say “STOP THE CUTBACKS” we must promote an alternative


The re-enactment of Justin Keating 1975 legislation on oil and gas and extension of this to all OUR natural resources
Among the terms were:
* Up to 50% stake find in any commercial field
* 8-16% royalties
* 50% Corporation tax

  1. 3

    If we had the financial security of our natural resources behind us we wouldn't have needed the services of the IMF et al. Instead this corrupt government has shared out our oil and gas fields amoung its friends and associates.
    The question is 'Is there anyone with the courage now to nationalise our gas and oil reserves?' Fine Gael and Labour won't do it.
    So how, given the short time before the next election can we get people into the Dail that will work for this?

  2. Tara Sheehy

    One thing that has to be made clear is that,Statoil is not a neutral entity and have exploited African nations oil resources as well as currently in the process on our own shores.

    Yes Norway may have nationalised but that hasn't stopped them seeking other nations resources unlawfully.These are lessons we have to learn so we don't make the same mistakes in future.

    Resources are necessary for our independence but what really needs to change fundamentally is the economic framework that continues to allow u more

  3. 3

    Sophie Nationalisation seems to be one option.
    Joseph technology used for exploration of oil and mineral deposits has improved vastly as you say but the Government continue to give out licences
    David I grow frustrated with Claiming Our Future as it seems to be no more than a talking shop.

  4. 1 Sophie Faherty

    We must nationalise our fossil fuel ressources

  5. 3 DavidTaylor


    Those are good solid recommendations, worthy of a republic.

    Is there any way of dealing with corporate money when it leaves the country? That is, some way of saying, "Leave your money in the country and we'll keep a low tax rate for you. Take it out and we'll tax the bejasus out of it!!!"

  6. 3 Joseph McCabe

    The technology used for exploration of oil and mineral deposits has improved vastly over the decades since the seventies when the Irish sea bed was carved out into boxes to be sold off for exploitation.
    With the new maritime geological survey results perhaps its time to redraw the map and maybe fund a state corporation to exploit these deposits instead of wasting 5 billion on the metro north!

  7. 3

    We have less than 5 weeks to present to the public an alternative to the cuts
    This is going to be a differcult task. I was hoping that the event would have produced such demands. Based on what was done though, which was great, we need to put a clear set of demands together
    Along with the demand for Keating like legislation on our natural resources the Community Platform is call to:
    1. Reduce tax breaks for the wealthy to EU levels
    2. Introduce a Wealth Tax for high earners with assets worth more than €1mi more

  8. 3 Colette Spears

    There are 10 billion barrels worth of fossil fuel off shore to gain from for our future. Bolivia and Norway both nationalised their oil industries, why can't we or at least re-enact the Justin Keating 1975 legislation

  9. 1 john

    It's amazing in a supposedly developed country we have given away our natural resources for next to nothing. A supposedly developed country which focuses on those on the dole or low to middle incomes for budget revenues. There is money there but the government is targeting the wrong groups and its actions will hit the economy through cutting purchasing power.

  10. 3

    Will those who did not listen to us during the Lisbon campaign listen to us now? I realise that times have changed but they still belive the lie that we have no alternative but to accept cuts. I sometimes feel I am talking to the deaf and that I am alone. Then I meet people like you and feel a sence of pride to be Irish and a hope for the future.

  11. 3 DavidTaylor

    I know, Jim, just being facetious. I personally would never vote for any upward transference of powers and rights but I have to abide by the so-called majority, who have yet to realise the consequences of their Lisbon treaty 'decision'. ;)


  12. 3

    When I say "we" I am talking about the people of Ireland.
    Let us be one

  13. 3 DavidTaylor

    Careful with the 'we'!!!

    But yes, the Lisbon treaty handed the family silver the mafia.

  14. 3

    Is it not the case though that we supported the sell off of our esesntial services when we voted for Lisbon Treaty?

  15. 3 DavidTaylor

    We are only at the beginning of selling off our resources. Rossport (and now Coillte), along with the eircon fiasco, are just three blatant examples of the disregard our politicians have for things which do not belong to them.

    Yes, I know we elect politicians on their stated policies but where on earth is the forward thinking, both in them and the electorate?

    The health service privatisation is on-going, as are the road networks; ESB is next; then the Post Office along with all the state and semi-state bo more

  16. 3

    I lokk forward to the Claiming our Future event. It will be impossible to meet 1000+ people but homefully many of you.

  17. 3

    Anonoymous you say "They gave away all the oil and gas in rossport. Now they are about to """Sell""" one and a half million acres of land (Coillte). About one eight of our land is about to be given away without one shot been fired."
    Yes! and our Health, Education and all public services that can make their friends even richer

  18. 3

    There is a realisation of the lack of taxation of our natural resources by many Irish people, I believe. There are 131 votes for this in Ideas and in Facebook causes 1,300 members.
    Ok! So what are we going to do about it? How can we refuse to accept the cuts and demand a fair return from OUR resources? The main parties including Labour are refusing to take up the issue and program for Government along with taxing of the wealthy. Labour say they represent us let them prove it.

  19. 3

    Thank you Praxis for that information
    What sickens me I hear from our polititions every day how terible the cuts are affecting the people of Ireland. Yet there is no mention of taxation of the wealthy people of the nation.
    A Revenue Commissioners’ analysis for 2008 showed that 189 high-income individuals with an annual income of €500,000, or more, paid an average tax rate of just 19.86%. Of 234 individuals earning between €250,000 and €500,000:

    * 54 paid tax at a rate of between 0% and 5
    * 34 paid more

  20. Anonymous

    They gave away all the oil and gas in rossport. Now they are about to """Sell""" one and a half million acres of land (Coillte). About one eight of our land is about to be given away without one shot been fired. What did the men and women of 1916 die for?

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