Cyprus-Forum.com

[bill cobbett]

Intersting proposal Mr Cobbet, although I dont agree, you pay us period, depending on how we invest in green technologies. The EU/US could have a stake in building and developing a green industries in Cyprus.

What has my nationality got to do with it?

Well, you obviously are not Cypriot!

Cyprus can invest in renewables and drill for its own resources!

Reh Paphitis, the bottom line is that sums must be done. Sums that involve the hard cash value of the oil reserves and the less tangible value of environmental protection and strategic considerations.... and if there's a chance that CY's interests are best served by keeping it in the ground, whilst still preserving ownership, in return for some kind of retainer, then these calculations must be evaluated, we can't just dismiss them out of hand, ....particularly as the future is Green.

Who is going to pay this retainer? Will it be the Energy hungry EU, US, Israel, or the developing China and India!

I don't know Bill, but other countries like the US, Russia, Canada, Australia, the Arab States, China and what not are ripping resources out of the ground as fast as they can.

They must have done their sums!

The retainer... the EU is the obvious candidate to pay one.

Given the environmental consequences of an oil spill off the southern coast and given the increasing world-wide shift to greener energy sources, then these calculations must be done and evaluated for the CY example, in an EU context, one where the EU's (in other words essentially GB's North Sea), oil reserves are on a sharp decline.

If the calculations work in CY's interests then leave it in the ground, but if they don't then go ahead and get it out.

[Paphitis]

Intersting proposal Mr Cobbet, although I dont agree, you pay us period, depending on how we invest in green technologies. The EU/US could have a stake in building and developing a green industries in Cyprus.

What has my nationality got to do with it?

Well, you obviously are not Cypriot!

Cyprus can invest in renewables and drill for its own resources!

Reh Paphitis, the bottom line is that sums must be done. Sums that involve the hard cash value of the oil reserves and the less tangible value of environmental protection and strategic considerations.... and if there's a chance that CY's interests are best served by keeping it in the ground, whilst still preserving ownership, in return for some kind of retainer, then these calculations must be evaluated, we can't just dismiss them out of hand, ....particularly as the future is Green.

Who is going to pay this retainer? Will it be the Energy hungry EU, US, Israel, or the developing China and India!

I don't know Bill, but other countries like the US, Russia, Canada, Australia, the Arab States, China and what not are ripping resources out of the ground as fast as they can.

They must have done their sums!

The retainer... the EU is the obvious candidate to pay one.

Given the environmental consequences of an oil spill off the southern coast and given the increasing world-wide shift to greener energy sources, then these calculations must be done and evaluated for the CY example, in an EU context, one where the EU's (in other words essentially GB's North Sea), oil reserves are on a sharp decline.

If the calculations work in CY's interests then leave it in the ground, but if they don't then go ahead and get it out.

I doubt the EU will be paying any retainers Bill. If anything, the EU will pay Cyprus to get a move on and start drilling!

And even if Cyprus does not drill, Israel will, so it makes bugger all difference to the environment whether we drill or not. The only thing that will happen if we do not drill, is that we will sacrifice much wealth, and if we do drill, then potentially we will be very well off with enormous growth to the economy and GDP and be rewarded with the emergence of a new industry sector giving our youth new employment opportunities!

[Bananiot]

Desertification is another real issue we may face in the very near future. As I said earlier, Paphitis is far, far away ...

[Paphitis]

Of course thay have pressed ahead, becuase its multinationals not governments that make policy, we dont have any ownership over those energy companies, the cost of not investing in green tech is far far higher than maintaining this suicidal path. By the way, did you know that we are living through a mass extinction? Over 100 species extinct this year alone? 1000 times the natural rate.

You go and tell that to the world's biggest polluters!

[Paphitis]

Desertification is another real issue we may face in the very near future. As I said earlier, Paphitis is far, far away ...

What does this have to with Oil and Gas?

I am far away, and in my neck of the woods, Oil Rigs are going up every month!

I suppose you are going to tell me that you are far smarter and that Australia is being selfish now for trying to supply the world with oil, a resource you use everyday!

[Paphitis]

And furthermore, with the Billions in tax revenue that will be generated straight into the public purse, the RoC Government would be better placed to:

a) invest more in renewables,
b) build more dams, and
c) invest in irrigation programs and desal plants.

As opposed to now, where we can't afford to invest that much in such programs.

Oil and Gas is a finite resource after all, so we might as well make the money now, like everyone else is, and put some of it back into the environment cleating Green employment on top of it all!!!!

[jahitty]

I take your point, oil and gas does generate tax revenues, but we all know how unreliable and unfair taxation is. I would agree even further if the so called oil and gas fields were state owned.The big oil economies also have some of the highest unemployment rates amongst its youth in the world so it doesnt mean that oil and gas extraction will solve economic problems. 10 Years ago who would have though that Germany would completely scrap its nuclear energy program? We have the technology, just not the will. Money can be found if the will is thier, these so called advanced economies have proved to be everything but advanced. We should not copy thier model of self destrcuction regardless of else is drilling or not.

[Paphitis]

I take your point, oil and gas does generate tax revenues, but we all know how unreliable and unfair taxation is. I would agree even further if the so called oil and gas fields were state owned.The big oil economies also have some of the highest unemployment rates amongst its youth in the world so it doesnt mean that oil and gas extraction will solve economic problems. 10 Years ago who would have though that Germany would completely scrap its nuclear energy program? We have the technology, just not the will. Money can be found if the will is thier, these so called advanced economies have proved to be everything but advanced. We should not copy thier model of self destrcuction regardless of else is drilling or not.

Cyprus has very low tax when compared to other countries, so I don't think you can accuse the Cypriot tax system of being unfair when compared to let's say the tax system in the UK.

Look, you need to grasp reality. If we have these resources, then we might as well benefit from them. There is a risk to the environment, but even if we do not drill our environment will be at risk from Israel anyway. These resources can create a lot of revenue, and with that revenue Cyprus will be able to spend more money in Green Technologies, as well as address other critical issues such as water in a far better way than what it is currently able to do so.

The world is Oil and Gas dependent, and one day the world will be forced to invest more and more in Green Energy anyway!

Also, don't knock Nuclear Energy! Most of our Energy is produced from very dirty Coal, and replacing that with Nuclear Energy, under the right circumstances, is very beneficial to the environment!

Furthermore, Cyprus doesn't have a bad economy, in fact it is better than most. We don't suffer from high unemployment, but Oil and Gas will offer better career opportunities, that are well paid.

Whether Cyprus wants to drill or not, you can bet your bottom dollar that most other countries will, including Israel.

It didn't stop the UK either.

[jahitty]

firstly im not knocking nuclear energy, my point was that when push comes to shove we can change, its all about thresholds and benefits. What made germany change course, an absolutely massive natural disaster. What threshold are we waiting for? The destrcuction of the eastern med eco system? extinction of our turtles? A massive oil spill? toxic soil and water? a war for resources that would consequently cost more in not only lives but also GDP and the enviroment? It isnt worth the risk, Japan presummed those nuclear reactors were built under the right circumstances and look what happened to them. How about career oppurtunities in green technology and ecology research, design and engineering?

[Paphitis]

firstly im not knocking nuclear energy, my point was that when push comes to shove we can change, its all about thresholds and benefits. What made germany change course, an absolutely massive natural disaster. What threshold are we waiting for? The destrcuction of the eastern med eco system? extinction of our turtles? A massive oil spill? toxic soil and water? a war for resources that would consequently cost more in not only lives but also GDP and the enviroment? It isnt worth the risk, Japan presummed those nuclear reactors were built under the right circumstances and look what happened to them. How about career oppurtunities in green technology and ecology research, design and engineering?

It's not up to Cyprus to bring about change, and as if it could anyway.

We are blessed with these resources, and we must take advantage.

Change will come from the far larger mover and shakers and not Cyprus!

The world will just laugh really!

I don't anticipate any War over Cypriot resources. You are being very silly.

And yes, I believe that Nuclear Energy in Japan was not such a bright idea on their part, as I believe that Nuclear Power plants shouldn't be anywhere near any fault lines. I don't think it is the right option for Cyprus either, but for countries like Australia, Nuclear Energy is not a bad option at all!

Cyprus can rip the Oil and Gas out of the ground, and with the money it can invest more in Green Technology! Happy?