Cork - Ireland's Saudi Arabia

[Baron von Biffo]

But just imagine the suspect list when someone asks, 'Who shot JR?'

[Ah Well]

I see the Shinners have already begun a coup taking over government buildings in Cork;

The sound of photocopying and smell of toner permeates for miles around

[Kid Ryder]

Jokes aside, while this would be good news indeed if this state had an oil & gas taxation policy that delivered benefits to the general public rather than to Big Oil, the public finances will not see a penny in tax paid on production from this well for a very long time, if ever. Providence's exploration costs (not 'well-specific') from the 25 years previous to the date that field goes into production can be set against their potential tax liability, meaning we are effectively paying for Sir Anthony's oil & gas gambles from the previous quarter-century, while he gets to pocket all the profits. There will be more of these 'finds' over the next few years, just to make sure all the entreprenhoors get on this gravy train before the desperation of austerity-addled govts. forces Oireland Inc. to re-examine the Burke/Ahern/Ryan terms for oil & gas production.

[Andrew49]

I see the Shinners have already begun a coup taking over government buildings in Cork;

[5intheface]

Jeez they do counter-revolutions very quickly in Cork!

[C. Flower]

Is there any reason to believe that Cork will see a cent of this?

[Griska]

Is there any reason to believe that Cork will see a cent of this?

Don't ask such questions.
Freedom hater.

[TotalMayhem]

I'm sure, Comrade Obese Bunny has great plans for the Corkie's new riches.

[morticia]

Is there any reason to believe that Cork will see a cent of this?

Just before anyone gets too excited, that well is producing just over 3000 barrels of oil a day. Our national daily usage is 200,000 barrels, I think.

A Ghawar sized find and answer to our economic ills this is not, regardless of whether Beans O'Reilly ever pays any corpo tax or not.

The only hope is that it might encourage others to go looking for more.

[fluffybiscuits]

And Mary-Lou already has the obligatory hyphenated name. Great foresight!

Sinn Feins deadweights?

[fluffybiscuits]

Is there any reason to believe that Cork will see a cent of this?

They will have to learn English

[Ah Well]

They will have to learn English

Now now Fluffy ....

[fluffybiscuits]

Now now Fluffy ....

[DCon]

Antrim might be about to overtake Cork!

Providence Resources said around 200 million barrels of oil could be recovered close to Rathlin Island, producing 20 billion US dollars (£13 billion) in revenue. The area explored covers around 30 square kilometres.

Read more: http://www.belfasttelegraph.co.uk/ne...#ixzz2J0Pbr05B

[fluffybiscuits]

Tiocfaidh ar oil!