Ireland commentator: Norway could help our oil wealth / News / The Foreigner

Ireland commentator: Norway could help our oil wealth. Irish Times’ Fintan O’Toole says the Norwegians could help their economy because of their Nazi-fighting history. The columnist, who The Guardian has listed him as the top 300 intellectuals, wrote on August 16 that Norway should be joint owners of Ireland’s oil and gas reserves. He believes this is due to their offshore expertise and internationally recognised resources. Mr O’Toole boasts about Norway’s credentials, saying, “The Norwegians, led by tough politicians who had risked their lives fighting the Nazis, stood up to the multinationals. They got great deals for their own people. They ended up with a €400 billion public pension fund, 200,000 good jobs and decent safety and environmental standards.”

norwayoilindustry, norwegianministryofpetroleumandenergy



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Ireland commentator: Norway could help our oil wealth

Published on Friday, 19th August, 2011 at 11:59 under the news category, by John Price   .

Irish Times’ Fintan O’Toole says the Norwegians could help their economy because of their Nazi-fighting history.

Kristin oil platform (illus. ph.)
Kristin oil platform (illus. ph.)
Photo: Marit Hommedal/Statoil


The columnist, who The Guardian has listed him as the top 300 intellectuals, wrote on August 16 that Norway should be joint owners of Ireland’s oil and gas reserves. He believes this is due to their offshore expertise and internationally recognised resources.

Mr O’Toole boasts about Norway’s credentials, saying, “The Norwegians, led by tough politicians who had risked their lives fighting the Nazis, stood up to the multinationals. They got great deals for their own people. They ended up with a €400 billion public pension fund, 200,000 good jobs and decent safety and environmental standards.”

Some critics, such as Irish Labour’s current Minister of Communications, Energy and Natural Resources, Pat Rabbitte argue this is not the answer, however. He agrees that being involved with Norway on oil and gas would be beneficial for Ireland, but admits they may not be able to afford it.

“The tax rate in Portugal is 27.5 per cent, 30 per cent in Spain and in France the rate is 34.4 per cent. The reason why a higher rate applies in Norway is straightforward: the strike rate in Norwegian waters is incomparably better,” writes Minister Rabbitte.

Norway’s Ministry of Petroleum and Energy have refused to comment on the matter.



Published on Friday, 19th August, 2011 at 11:59 under the news category, by John Price   .

This post has the following tags: norwayoilindustry, norwegianministryofpetroleumandenergy.





  
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