Tuesday, August 23, 2011

ireland's oil and gas


Who to believe? If Fintan O'Toole is correct, then the deal the Irish government is proposing to enter into with the multi-nationals for our gas & oils reserves is a pretty terrible one. If Pat Rabbitte is correct, the minister with responsibility, then it is the best deal available ... and still a terrible deal. Given that, the most pragmatic approach would be to do nothing. Leave the gas and oil where it is. Better that some future generation get some real benefit from it, than we get a pittance for it now while enriching further some faceless corporation. So far all this generation is bequeathing to our posterity is an enormous debt. It'd be nice if we left them something that might help pay it off.

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