The announcement of a significant oil find in the Barryroe field off the Cork coast, along with the many other discoveries of oil, gas, and precious metals, emphasises once again the case for these and all natural resources to be under democratic people’s control and developed in a sustainable way. They should be nationalised.
This is the wealth of the Irish people, not of corporate interests, whether Irish or global monopolies. These resources can form the bedrock for an alternative path of economic and social development, one that is people-centred, planned, sustainable, and environmentally respectful. Recent progressive political developments in Latin America have shown what is possible when these resources are used to benefit the majority and not to enrich the few.
This oil find also explodes the myth, carefully scripted, that we have no resources, that we are poor and therefore have to rely upon the begging-bowl from the EU and others.