Nary a drop of oil has ever been extracted from Ireland, either on land or at sea. That’s about to change, the BBC reports:
Ireland is on the verge of securing revenue from oil that could run into billions of pounds.Providence Resources Plc, an Irish and UK company, has confirmed its Barryroe site, 30 miles off the Cork coast, should yield 280m barrels of oil.
Via Meadia has been keeping track of a rapidly changing global energy landscape as the United States, Canada, Brazil, Israel, and now Ireland are developing new sources of fossil fuels. These shifts are upsetting the traditional energy field, which has been dominated by petro-states like Saudi Arabia, Nigeria, and Venezuela for years.As this energy revolution rolls on, more power will fall away from those petro-states to countries that are stabler, friendlier, and closer to the Untied States. Welcome, Ireland, to the club of oil-producing states. And may there be many more happy surprises in your future.