Articles & News

Irish Independent Article by John Moloney, the group managing director of Glanbia Plc (August 26th. 2012)

This article backs up our emphasis (AgriFood Study) on the importance of this industry for jobs and out economic future.

This industry cannot leave Ireland and relocate elsewhere as the following extract shows; we can say the same about Tourism (178,000 jobs):

“This sector has been here for a long time, is predominantly Irish-owned and uses a lot of locally produced resources. It is heartening to see that in some ways we in this sector have been ‘rediscovered’ by policymakers.
The significance of the food sector can be set out simply. Total turnover is €25.4bn — but importantly, €20bn of this stays in the Irish economy, a huge portion of the total value involved. Put another way, up to 80 per cent of the inputs to the sector come from the Irish economy and are dispersed across the country.”

Full article   http://www.independent.ie/business/the-food-sector-will-generate-jobs-and-lead-recovery-3210098.html

Learning From US Shale Gas Experience:

Vital to estimations of  (commercially viable) gas reserves are the Decline Rates for wells.

Oil and gas industry consultant and geologist Arthur Berman  (Director, Labyrinth Consulting Services, Inc, Houston, Texas)  gave a very interesting lecture to the June 2012 ASPO Conference in Vienna.

Mr. Berman says decline rates are proving to be far quicker than Industry predictions.

Anyone thinking of gambling Ireland’s future on Shale Gas might like to spend 30 minutes looking at this well-illustrated lecture.

“Arthur Berman: Learning From US Shale Gas Experience”       http://www.aspo2012.at/conference-presentations/day1part2/

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Article in Guardian June 23rd. 2012 –  “Worry for homeowners who face the threat of fracking”   

This is another likely economic impact.

The article includes  – “Not surprisingly, many US lenders are reluctant to offer mortgages on properties leased for gas drilling, while others stipulate that homeowners must get permission from their mortgage lender before they sign a lease.
One couple in Pennsylvania were refused a mortgage by three lenders because of gas drilling on a neighbouring property. One of the lenders involved, Quicken Loans, said: “In some cases conditions exist, such as gas wells and other structures in nearby lots, that can significantly degrade a property’s value.” ” (our underlining).

read the full article at

http://www.guardian.co.uk/money/2012/jun/23/fracking-undermine-value-home?INTCMP=SRCH

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The Leitrim Observer article on the Impact Research Group research report:

http://www.leitrimobserver.ie/news/business/economic-report-urges-precautionary-principle-to-be-applied-to-fracking-1-3869533

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