‘More than 1 billion barrels worth of oil’ discovered off coast of Cork

The money from that oil will go to the EU. Isn't it funny that the oil was discovered after Ireland commitment to the EU

I hope it won't be a rerun of British Petroleum (BP) off-shore gas drill in Rossport, north county Mayo, Connacht/western Ireland, where the multi-national moved in, divided a community against itself, and ran hazarduous overland pipes through farmers property with the apparent rubber-stamping of the Irish Government and its independent judicial system. And claims by opponents that the Government demanded a far less cut than any other would have done in similar circumstances. Hopefully, Taoiseach Ó Cíonnaith (Kenny) delegates will represent rebel county Corkonians better than he did those of his own county at Oil Company HQ.

jacersagain: Yes, but that is only because the UK government spent the taxation revenues as fast as the oil can out of the ground. Norway, on the other hand, as well as several oil-producing Middle Eastern countries, set up sovereign wealth funds to invest the revenues for the future. The temptation here is to spend the revenues straight away to "fix" (i.e. stave off) Ireland's financial Armageddon.

Have they got it in barrels already? Will the Cork boys be sporting tea towels on their heads from now on?

whoops! seems the gremilns in ICentral's computers are still living happily within its system. Why else would my last post appear "doubled-up"?

I doubt that, if this oil is brought ashore for refining in Ireland, the citizens of Ireland will see much benefit. Since the Brits discovered oil off their Scottish coast, few have seen any benefit. Petrol (gas) and diesel prices for ordinary motorists are still exorbitantly high in the UK. Ireland cannot expect any change either. The post of aloismartin is right on the button. And don’t forget… BP is extracting the cost of their reparations for the disastrous oil spill of a couple years ago from every single car driver and home heater. Why else are their profits still astronomically high? I doubt that, if this oil is brought ashore for refining in Ireland, the citizens of Ireland will see much benefit. Since the Brits discovered oil off their Scottish coast, few have seen any benefit. Petrol (gas) and diesel prices for ordinary motorists are still exorbitantly high in the UK. Ireland cannot expect any change either. The post of aloismartin is right on the button. And don’t forget… BP is extracting the cost of their reparations for the disastrous oil spill of a couple years ago from every single car driver and home heater. Why else are BP's profits still astronomically high?

May as well have been Discovered by an Economic Alliance of Anglo-Dutch, German, and American Multi-National Corporations; That`s all the average Irish will see of It ! If only t`were as much Blood and Guts between Cork and the North of Spain as there is Dinosaur Poo ?

Please Mr.President do not bomb us into democracy, we have no Al-Qaeda to help us :-)

I never thought slant drilling was so advanced.All that way to a middle east oilfield.And we didn't even have to freedom their ass to get it.

Are the environmentalista going to object? What about the fish? Go for it Ireland Drill,Drill,Drill.

They'll be finding barrels of bone, stone and Sligo rags next - it's obviously from the wreck of the Irish Rover.

If this was a discovery of oil in America (as we've had over here), the first move would be to declare it a wildlife sanctuary and forbid any use of it so we could keep importing all our oil from the middle east!