Basically the same as any oil company setting up new projects, governments allow them to deduct their costs 1st and they pay tax on their profit, that doesn't mean your government get nothing...they still get 25% of the profits.
As for royalties...you cannot blame the multinationals for the stupidity of your government, they sold it off and with the oil/gas price so high, the oil companies would drill in your street if they found substansial oil.
Personally...I think the petition should ask the ROI government to raise the tax on oil/gas...just like UK gov did and have a fall back rate so if oil/gas dropped to a certain amout, then the tax drops aswell. If the multinationals didn't like this, then they can go elsewhere.
As for royalties...you cannot blame the multinationals for the stupidity of your government, they sold it off and with the oil/gas price so high, the oil companies would drill in your street if they found substansial oil.
Personally...I think the petition should ask the ROI government to raise the tax on oil/gas...just like UK gov did and have a fall back rate so if oil/gas dropped to a certain amout, then the tax drops aswell. If the multinationals didn't like this, then they can go elsewhere.


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