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Friday August 31, 2012 00:11
by C - RSC
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Comments (4 of 4)
Jump To Comment: 4 3 2 1Feudal Castrato
I love it "Pump and Dump". What imagery.
Ferguson as head of SFI should not have been there but then again, he owns many shares in Shell, like his holdings in Renovo. I would like to know did Rabbitte really know who he was sitting behind on the infamous day in question - The Energy Conference.
"Rabbitte, get focussed"
He's very focussed....on his cut for facilitating the robbing of our resources.
These guys aren't completely stupid like they pretend to be when something comes to light. They go into rooms with capitalists to plan all this.
And as for Mark Ferguson getting involved in oil / gas exploration, well that is very telling indeed, judging by his own little "pump and dump" operation at Renovo netting him a nice few million.
Our seas are our resources, our reserves. In 1973 we joined the European Union and what the EU were most impressed with were those seas....to the shelf that surrounds the Island of Ireland.
Providence Oil and prospecting takes us back to the 1980's and earlier when people like Sir Tony O'Reilly saw opportunities to locate oil offshore. The deal provided by the Government was sufficient to attract people to search for oil. Atlantic Resources, for those of us who can remember, was like the gold prospecting days in America. Everybody in Ireland seemed to talk 'if only we could find oil...what would it do for the people in Ireland'. The hopes were high and people got caught in the frenzy. O'Reilly brought Atlantic to the stock market and rumours (pre real insider trading regulation) abounded from all sources. Share prices rose and rose further. If I am correct they went as far as £6 which in the 1980's was serious money. Then the horrors came. Insufficient findings and high cost of drilling buried Atlantic shareholders into a nothingness other than a nominal few shares in a company called Providence.
2012 and here we go again. This time it is son, not Dad, and its a new run. It is good news for Ireland only if Ireland negotiates a deal similar to the way the Norwegians have orchestrated same. We in Ireland, we deserve it. It is an opportunity that comes to pass and not to pause. We need to embrace the new technology, find a suitable partner for Providence Resources (they indicate this is the preference) and we need to go forward.
Mr. Rabbitte. Get focused. I ssuggest a case back in 1950 which is still a precedent case and it concerns our reserves and how important they are to this Island of ours. The case is State v Comyn 1950.
The Energy Conference which was held Friday 31st August 2012 was chaired by Mark Ferguson, Director General SFI, a man who features much these days in the media but his expertise is not energy, yet energy is Ireland's present and future.
Congratulations to all involved, ye're keeping the fire of resistance burning bright. So important to demonstrate our discontent in these kinds of actions...