DONEGAL OIL AND GAS LICENCES SHOULD BE RENEGOTIATED
Published: 2 March, 2009
DONEGAL OIL AND GAS LICENCES SHOULD BE RENEGOTIATED - SF
Sinn Fein's candidate for North Inishowen Sean Ruddy has called on the Government to follow the example of the American Congress and renegotiate all the oil and gas licences issued over the last thirty years.
Mr Ruddy said there is no reason why the government cannot reappraise the situation here in Ireland.
"Amidst an economic crisis where the government is making questionable attempts to stabilise a ravaged economy, surely this is an opportunity to generate much needed revenue for the country".
In America the Congressional Bill will bar oil and gas companies bidding on new Federal licences unless they pay a fee or renegotiate improperly drafted licences that do not require royalty payments on Gulf of Mexico production. The Bill will generate an estimated $13 to $15 billion in revenue for the American exchequer over a five-year period.
Meanwhile Fianna Fail continue to sit on their hands saying that the Corrib gas deal must stand and that it cannot be broken. Fine Gael are equally disinterested in the matter stating the 'rule of law' must be upheld?
Sinn Fein refuse to take this standpoint and is currently demanding that the oil and gas licences be renegotiated, including those off the coast of Donegal.
Ruddy went on to say it is only a matter of the Government asserting the sovereignty of the people and putting the common good before the interests of corporate greed.
"It is such a pity that this Government lacks the backbone to challenge the dominance of the multi-national at the expense of small businesses which once thrived on this island, now under significant threat.
As a nation we should be making every effort possible to explore ways in which we can capitalise on our natural resources. This will generate much needed revenue, create employment in our coastal areas and in turn safeguard the future of our rural communities.
Ruddy continued by saying we must look to other European countries for examples of best practice.
If the government were to adopt a similar policy to the Norwegians who have taken control of their mineral rights then we too can control our natural oil reserves and maintain all our public services to a level more befitting of a modern western society.
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