Upcoming Events

National | Economics and Finance

no events match your query!

New Events

National

no events posted in last week

Blog Feeds

The Saker
A bird's eye view of the vineyard

offsite link Alternative Copy of thesaker.is site is available Thu May 25, 2023 14:38 | Ice-Saker-V6bKu3nz
Alternative site: https://thesaker.si/saker-a... Site was created using the downloads provided Regards Herb

offsite link The Saker blog is now frozen Tue Feb 28, 2023 23:55 | The Saker
Dear friends As I have previously announced, we are now “freezing” the blog.? We are also making archives of the blog available for free download in various formats (see below).?

offsite link What do you make of the Russia and China Partnership? Tue Feb 28, 2023 16:26 | The Saker
by Mr. Allen for the Saker blog Over the last few years, we hear leaders from both Russia and China pronouncing that they have formed a relationship where there are

offsite link Moveable Feast Cafe 2023/02/27 ? Open Thread Mon Feb 27, 2023 19:00 | cafe-uploader
2023/02/27 19:00:02Welcome to the ‘Moveable Feast Cafe’. The ‘Moveable Feast’ is an open thread where readers can post wide ranging observations, articles, rants, off topic and have animate discussions of

offsite link The stage is set for Hybrid World War III Mon Feb 27, 2023 15:50 | The Saker
Pepe Escobar for the Saker blog A powerful feeling rhythms your skin and drums up your soul as you?re immersed in a long walk under persistent snow flurries, pinpointed by

The Saker >>

Public Inquiry
Interested in maladministration. Estd. 2005

offsite link RTEs Sarah McInerney ? Fianna Fail?supporter? Anthony

offsite link Joe Duffy is dishonest and untrustworthy Anthony

offsite link Robert Watt complaint: Time for decision by SIPO Anthony

offsite link RTE in breach of its own editorial principles Anthony

offsite link Waiting for SIPO Anthony

Public Inquiry >>

Human Rights in Ireland
Promoting Human Rights in Ireland

Human Rights in Ireland >>

Lockdown Skeptics

The Daily Sceptic

offsite link British Drivers Steering Away From New Cars In Their Droves Mon Dec 23, 2024 13:00 | Sallust
British car-buyers are turning away from new vehicles in their droves and keeping their reliable old petrol models going for far longer as Labour's Net Zero war on affordable motors heats up.
The post British Drivers Steering Away From New Cars In Their Droves appeared first on The Daily Sceptic.

offsite link Britain on Brink of Recession After Growth Revised to Zero Following Reeves?s Horror Budget Mon Dec 23, 2024 11:09 | Will Jones
Britain is on the brink of a recession after official figures were revised to show zero growth in the third quarter of the year and living standards fell, with Rachel Reeves's horror Budget blamed.
The post Britain on Brink of Recession After Growth Revised to Zero Following Reeves’s Horror Budget appeared first on The Daily Sceptic.

offsite link What Fresh Hell is This? The Climate and Nature Bill Mon Dec 23, 2024 09:00 | Paul Homewood
If you thought eco zealot Ed Miliband was bad, wait until you get a load of the Climate Change and Nature Bill, which seeks to turbocharge the Net Zero agenda and already has the support of 192 MPs. Paul Homewood has the skinny.
The post What Fresh Hell is This? The Climate and Nature Bill appeared first on The Daily Sceptic.

offsite link The Daily Sceptic Christmas Appeal Mon Dec 23, 2024 07:00 | Toby Young
The Daily Sceptic's Christmas Appeal launches today ? an opportunity for readers to show their appreciation of the work we do. Remember, donating just ?5/month or ?50/year will give you access to a range of premium perks.
The post The Daily Sceptic Christmas Appeal appeared first on The Daily Sceptic.

offsite link News Round-Up Mon Dec 23, 2024 01:12 | Richard Eldred
A summary of the most interesting stories in the past 24 hours that challenge the prevailing orthodoxy about the ?climate emergency?, public health ?crises? and the supposed moral defects of Western civilisation.
The post News Round-Up appeared first on The Daily Sceptic.

Lockdown Skeptics >>

Shell to Sea Spokesperson Jailed for E300 fine as Millions roll in for Corrib Gas

category national | economics and finance | press release author Saturday May 07, 2016 19:38author by Shell to Sea - Shell to Sea Report this post to the editors

Maura Harrington jailed as Vermillion earn $17million from first three months of Corrib Gas

Shell to Sea campaigner Maura Harrington was arrested in Belmullet on Friday afternoon and jailed for 10 days in Mountjoy prison for the non-payment of a court fine of E300.
It is thought that the jailing relates to a 2012 protest attempting to block construction of the disputed development.
Ireland's resource giveaway.
Ireland's resource giveaway.

Ms. Harrington has continuously opposed the Corrib gas project due to health and safety concerns, environmental damage and the giveaway of Ireland's natural resources to private corporations. [1]

The jailing comes on the same day as Vermillion Energy - who owns an 18.5% share in Corrib gas - released sales figures of $17million from Corrib from the first three months of 2016. [2] At this rate the Corrib partners - Shell, Statoil and Vermillion - stand to make sales of $7.35billion from Corrib over a 20 year field lifespan. [3]

It is widely accepted that no or minimal tax will be paid by the developers of the Corrib Gas Project to the Irish state. Former Managing Director of the Corrib Gas project, Brian O’Cathain previously stated in 2010 “That Corrib will never pay tax”.[4] While a Vermilion investor profile estimated it would be 7 years before any tax is paid. [5]

Terence Conway of Shell to Sea stated: "The hypocrisy of this is evident - Maura goes to jail to for protecting our environment and resources while the multinationals are invited in to plunder."

He continued: "We are calling on yet another government to take back our natural resources that have been willfully given away by corrupt politicians and to ensure that no community has to suffer what we have for the past 15 years."

Mr Conway also repeated the numerous calls for independent inquiries into Corrib, including that by UN Special Rapporteur on Human Rights Defenders Margaret Sekaggya. [6]

Separately, speaking on on Thursday night to a packed RDS in Dublin, Canadian author and activist Naomi Klein said Shell to Sea had "inspired people around the world". [7]

ENDS

For more information contact:
Terence Conway: 086 0866264

http://www.shelltosea.com
http://www.facebook.com/shelltosea
http://twitter.com/#!/ShellToSea

Links

[1] Shell to Sea aims
http://www.shelltosea.com/content/campaign-aims

[2] "Millions roll in for Corrib Gas as production set to ramp up" Irish Independent" 07/05/2016
http://www.independent.ie/business/irish/millions-roll-....html

[3] Estimate based on projecting Vermillion's sales figures.
$91.9m would be the total sales for the first three months including the Statoil and Shell share. Multiply by 4 to get one years sales = $368million. Multiply by 20 years = $7.35billion

[4] Corrib 'will never pay tax', says project's former MD – News Release – Dublin Shell to Sea
http://www.shelltosea.com/content/news-release-corrib-w...er-md

[5] Vermilion Investor Profile - Seeking Alpha
http://seekingalpha.com/article/3754506-vermilion-energ...again

[6] United Nations, General Assembly, Human Rights Council 26/2/2013
http://www.ohchr.org/Documents/HRBodies/HRCouncil/Regul...n.pdf

[7] William Hederman facebook post
http://www.shelltosea.com/content/naomi-klien-shell-sea...world

Related Link: http://www.shelltosea.com
author by Observerpublication date Wed May 18, 2016 08:22author address author phone Report this post to the editors

I can't help but point out that the campaign is not getting any smarter as the years go by. The calculation that the Corrib field will make $7.35 billion over the next 20 years is based on the fact that the field will be producing exactly the same amount of gas in twenty years time as it did in the first three months of production! Sadly this is not the case as production declines year by year to a mere trickle at the end of field life. If it were producing at the same rate in 20 years time as it is today I sure the whole of Ireland would rejoice in the benefits of the additional tax revenue.

author by gasmanpublication date Wed May 18, 2016 11:49author address author phone Report this post to the editors

That isn't the gas. A conventional gas field like Corrib has ramps up quickly to a fairly long plateau and has relatively constant production and only towards the end does production drop off significantly.

In the case of unconventional gas fields like Fracking, production rises rapidly in the first year to 18 months and then falls off exponentially to a trickle. This sounds like the case you are describing and is not applicable to Corrib.

author by Educated observerpublication date Wed May 18, 2016 13:39author address author phone Report this post to the editors

I'm afraid that the statement in the previous comment is entirely incorrect on many levels. Corrib like many gas fields will have a relatively short plateau followed by a long and fairly steep decline. Take a look at the independent publicly available analysis such as that published by Wood Mackenzie if you don't believe me. The idea that it will produce for the next 20 years at the same rate is just ludicrous.

 
© 2001-2024 Independent Media Centre Ireland. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by Independent Media Centre Ireland. Disclaimer | Privacy