Government of Ireland
It's Gambling History
In September of 2008 Ireland's Government took the biggest financial gamble EVER in the history of the nation. Under duress, it undertook to guarantee a total of €440 BILLION the which to cover the bad ass banking systems mistakes, its bad judgements, and what amounted to nothing short of its sheer criminality.
That fatal decision caused Ireland countless losses, much depression, and not a few suicides. It directly cost the Irish taxpayer €40 BILLION or €10,000 for every woman, man, and child in Ireland.
It was possibly the biggest single policy decision ever taken by an Irish government. The decision bet the stability, the very future of Ireland and of its people, on the survival of the banks.
If you boil the whole thing down to its bones what the government decided was that those who made and played with millions were to be guaranteed and bailed-out by the struggling masses, by those on welfare, by the sick and by children, and by future generations.
In 1925, the Irish Free State took another very large gamble. But at that time it wasn't putting the nation and its future generations into hock, nor was it guaranteeing the rich at the expense of the poor. The gamble was on new technology to bring Ireland into the industrial age. It was the so called "Shannon Scheme".
On the 13th of August 1925 Ireland awarded the German company Siemens the contract for the electrification of the entire country. The core of the project was the hydroelectric power plant on the river Shannon with three 30 Mega Watt water turbines. The whole project including the distribution grid came to £6,721,000.The decision proved to be one of the best investments in the history of the nation.
Time for Another Bet?
What if Ireland had its very own Green-diesel oil supply?
(1) We would prevent hundreds of millions of Euro leaving the country (in recent years total oil imports averaged around €4 billion a year).
(2) There would be jobs from the refining and distribution of this oil.
(3) We would be less subject to the massive market fluctuations in oil prices.
(4) We could insure minimal supply at times of crisis.
(5) It would give Carbon Credits to Ireland.
Would Ireland taking a chance on Audi's e-diesel process be a fair bet at this time? Ireland has tons of spare Green Electricity being generated every night by our increasing number of wind farms. During the night much power is generated when it is not needed and therefore goes mainly to waste. This waste wind energy could be purchased at a cheap price and used to turn our other plentiful resources WATER and AIR into Blue Crude. Stripping Carbon from the air would gain Carbon Credit to Ireland.
1.25% of our BIGGEST Gamble Might suffice?
It would no doubt be taking a chance a gamble, and it would take a fair sized financial investment.
I am suggesting that a mere 1.25% of the size of our biggest gamble, the one we will be paying for far into the future, might buy us a foothold in this new Green Oil technology. I have no idea of what I am talking about in terms of costs but just maybe a half a billion would get us a foot in the door - maybe?