In 30 years I’ve been in the business, the Gulf of Mexico has been called the Dead Sea countless times
It will be a matter for the Government to make a decision on how to find the appropriate savings to deal with the country's economic and financial difficulties. I am sure Opposition members will be constructive in their proposals as to where we will find savings of €4bn.
There has been a lot of concern that if you invest the government with the ability to decide what’s appropriate here and there, that will lead to less competition and choice. The chairman’s proposals, which I’ve had a chance to read quickly, provide a better balance of choice and protection.
There are always rifts between the Department of Finance and other government departments ... It doesn't make much difference because all of the departments have been consulted. They have all made their views known on the proposals made by Colm McCarthy and I'll be studying the departments' views.
The appetite for opening new frontiers when prices were low in the 1990s was very small ... Today, the biggest discovery of all is technology.
We want to see the 22 reports to finality ... We are concerned that a new board might want to forget about all this and move on.
That’s the wonderful thing about price signals in a free market — it puts people in a better position to take more exploration risk
A lesson from the financial crisis is that national supervisory structures are no longer sufficient to supervise internationally active banks . . . [In] that respect the present suggestions are an important step
The agency will still have a primary role of protecting consumers, and it will still have authorities.
I anticipate further heavy discussion about this
We have had a crisis – and we have to learn from this crisis ... This proposal is a first