Oil & Gas bonanza
Huge oil & gas deposits around Ireland should be developed for and by the Irish State

Ted Tynan
Ted Tynan (WP)

Cork North Central Workers’ Party candidate Ted Tynan has said that massive oil and gas deposits discovered off the west coast of Ireland should be developed and harnessed directly by an Irish state owned oil exploration company rather than repeating the mistakes of the Corrib gas field and putting it into the hands of greedy multinationals.


Mr. Tynan was responding to the recent report from the Petroleum Division of the Department of Communications, Marine and Natural Resources which estimated that there at least ten billion barrels of oil lying off the west coast of Ireland with a current value of more than €450 Billion and similarly large gas deposits which could keep the economy buoyant for decades as well as meeting all our fuel needs. 


“This official government report shows that Ireland is on a par with parts of the Middle East in terms of oil and gas reserves.  It is essential however that these reserves are harnessed for the Irish people and are not exploited by multinational oil companies like Shell and Exxon”, said Mr. Tynan.


“There must not be a repeat of the disgraceful Corrib Gas situation where massive gas deposits were given away for practically nothing by the state, while local people were ridden roughshod over by Shell, Statoil and Marathon and assisted in their efforts by the Irish government”.


“The Workers’ Party believes that a State Oil and Gas company should be established to locate and harness our vast natural resources.  We pointed out the potential of these resources many decades ago and were derided while successive governments allowed multinationals to pillage our natural resources.  These latest oil and gas discoveries can either sustain a strong economy for Ireland for decades to come or be given away once again to greedy conglomerates with no respect for people’s rights”, Ted Tynan stated.

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