People Before Profit Natural Resources Policy
SUMMARY
- Take all oil and gas resources into public ownership. People Before Profit will nullify all existing agreements with oil companies and place a moratorium on all licensing rounds until the new model of state management has been introduced.
- Introduce a new model of hydrocarbon management. This will be premised upon (a) public ownership of resources, (b) stronger state participation through production sharing and service contracts, and a national oil company, and (c) higher rates of financial returns through increased rates of corporate tax and royalties.
- Develop and fund an integrated industrial development strategy comprising upstream and downstream activities. Public ownership of our natural resources will become the cornerstone of a new development strategy that will replace a reliance on foreign multi-nationals.
- Use funds and infrastructure from oil and gas activities to diversify Ireland’s energy supply. People Before Profit favours developing and moving towards more sustainable forms of energy production which would have additional industrial, economic, social, and environmental benefits. *
- People Before Profit will design and implement a new system of consultation and planning for hydrocarbon activities based on the active engagement of all stakeholders. All exploration, production, and processing activities will be subjected to transparent, fair, and participative permissions processes involving community participation in decision making. Hydrocarbon activities will only be authorised when there is community consent.
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