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“Ireland’s share of revenue from its gas fields could be as low as 7%, report shows"



Source: the Irish Oil and Gas website

Ireland’s share of revenue from its gas fields could be as low as 7%, report shows:

The tax write-offs under Ireland’s licensing terms for oil and gas are so generous, oil companies could end up paying the exchequer as little as 7% of the revenue from Irish gas fields. This shocking figure is extrapolated from information provided by Brian O’Cathain, former head of the Corrib Gas project. He also predicted Corrib would not now pay any tax..."

More at The Speckled Blog

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From the archives: The M3: Why the public will never stop paying


Although bad weather or specific ground conditions can add as much as 40% to the
costs of a road project, the NRA did not include these costs in their initial estimates.
The Comptroller and Auditor General has described this underestimation in road
prices as systematic, indicating that is was a deliberate policy rather than the result
of incompetence. The NRA has claimed that these cost overruns no longer take
place, but this change can be attributed simply to increases in funding allocations
to motorway projects. NRA cost overruns as of 2004 amounted to €10 billion. [2]
One estimate put their debt as of 2008 at €16 billion.

More at Analysis