Wednesday 17 January 2018

Kevin Myers: Oil conjures up every lazy stereotype of the ruthless multinational plundering our assets

Kevin Myers

I really don't like referring to the opinions of other columnists: they are, after all, just opinions. But in the present mood, with despair so widespread and politicians so discredited, opinion-makers can achieve an undue influence.

This is especially true when the mob is forming amid the ruins of so many hopes, and the appetite for simple, populist solutions is growing insatiable.

On Monday, Fintan O'Toole in 'The Irish Times' wrote of one way out of our crisis: to tax the multinational oil companies operating in Ireland. "The likelihood is that oil prices will reach $100 a barrel this year. This would put the potential value of Ireland's offshore energy resources at a 1,000 billion dollars (sic). This is the only figure one can cite that can make the bank debts look small."

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