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Ferris welcomes SIPTU call for review of oil and gas licenses

30 June, 2011 - by Martin Ferris TD

The Sinn Féin Spokesperson on Natural Resources, Martin Ferris, has welcomed a call by SIPTU for a moratorium on all oil and gas exploration licenses pending a promised Oireachtas review.

Deputy Ferris was speaking following the launch of a report by SIPTU this afternoon by Jack O’Connor.

Deputy Ferris said:

“I very much welcome this report. Sinn Féin has been calling for all licenses to be suspended pending such a review and I would hope that the Government responds positively.

“Minister Pat Rabbitte did promise such a review during the course of the debate on our private members motion on oil and gas and I will be pressing this as a matter of urgency at meetings of the Communications, Energy and Natural Resources Committee.

“This report confirms that more and more people are coming to the view that the current generous terms being offered to the multi nationals, and the lack of state input combined with the low tax rate, are unsustainable in light of the current financial crisis and the IMF/EU imposed bailout. We have a potentially massive resource that could provide the answers to many of our problems if properly managed.”

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