0bserver Posted June 6, 2022 Share Posted June 6, 2022 2 minutes ago, Declan said: But who are the self-serving people here? Are any of them? It's hard to tell. I would rather politicians were free to vote with their conscience. Many were elected on a fairly green manifesto, that doesn't necessarily stop them voting for gas exploration, but voting against certainly wouldn't be a betrayal of the electorate worthy of resignation. There could be reasons to support drilling but not with the proposed firm. There could be small print that leaves the Island at a disadvantage. Should an MHK waive it through or resign? Depends. If they're just frightened of 'not being green' then they should resign. if they have a legitimate concern then let's hear it. 2 Quote Link to comment Share on other sites More sharing options...
Declan Posted June 6, 2022 Share Posted June 6, 2022 3 minutes ago, 0bserver said: Depends. If they're just frightened of 'not being green' then they should resign. if they have a legitimate concern then let's hear it. It would be nice if the case for this proposal was also made. It's all a bit vague at the moment. 1 1 Quote Link to comment Share on other sites More sharing options...
quilp Posted June 6, 2022 Share Posted June 6, 2022 (edited) The case for the proposal was put out on Moulton's video channel a few days ago. For anyone who missed it or couldn't be arsed (more likely) first time around... Edited June 6, 2022 by quilp Video disappeared 4 Quote Link to comment Share on other sites More sharing options...
Declan Posted June 6, 2022 Share Posted June 6, 2022 2 hours ago, quilp said: or couldn't be arsed (more likely) first time around... Bit harsh. It's on an obscure you-tube channel full of boring shit about motorbikes. Robertshaw is very unconvincing. His sneering dismissal of concerns is deeply concerning - it's reasonable to ask questions, particularly of a man with his track record when a minister. I was unaware they were planning wind turbines alongside the gas. That's a plus. Where's the funding coming from? Is that transparent? Is that coming back to us? Strange the previous government seem to have kept the proposal quiet. Quote Link to comment Share on other sites More sharing options...
The Phantom Posted June 6, 2022 Share Posted June 6, 2022 (edited) 8 minutes ago, Declan said: Where's the funding coming from? Is that transparent? Is that coming back to us? Private IOM Company so you won't see where the funding is coming from, but it's all from individuals and some institutional investors. No govt money. You'd probably be able to see who the shareholders are at the Registry (assuming its a 1931 Company) assuming they are not using nominees or a 2006 Company layer. The shareholders will more than likely be funding, but there will be others who might not be taking equity i.e. just a loan. Similar to the 'IOM Footy Team - who is funding it'. It's private and no ones tax money is involved. There is a difference between transparency and just being nosy. Edited June 6, 2022 by The Phantom 1 1 Quote Link to comment Share on other sites More sharing options...
The Phantom Posted June 6, 2022 Share Posted June 6, 2022 @DeclanJust checked. It's a 2006 Company, so no you won't be able to see the shareholders. 1 Quote Link to comment Share on other sites More sharing options...
Declan Posted June 6, 2022 Share Posted June 6, 2022 I didn't pick up on the institutional investors. Made it sound like 100 Robertshaws. That's more reassuring. Are the Govt being asked to underwrite anything? Quote Link to comment Share on other sites More sharing options...
The Phantom Posted June 6, 2022 Share Posted June 6, 2022 2 minutes ago, Declan said: I didn't pick up on the institutional investors. Made it sound like 100 Robertshaws. That's more reassuring. Are the Govt being asked to underwrite anything? I know a local guy invested and he is teeing up some big institutional interest through contacts in the financial industry over here. There will likely be others. The costs that are likely for this will need the big players to become involved. No matter how many 100s of Robertshaws (god forbid) there might be. I don't believe Govt have any involvement whatsoever financially. They are just giving permission to survey. In due course and assuming it's all viable they'll then lease the seabed to Crogga in some form. 1 1 Quote Link to comment Share on other sites More sharing options...
Declan Posted June 6, 2022 Share Posted June 6, 2022 6 minutes ago, The Phantom said: Similar to the 'IOM Footy Team - who is funding it'. It's private and no ones tax money is involved. There is a difference between transparency and just being nosy. My concern was 100 Robertshaws wouldn't have the resources. If they go part way and run out of funds, there's potential we'll either have a clean-up bill or be so far down the road we'd need to find the additional resources. I wasn't that concerned about the footy team's finances and the thread got a bit OTT, but they were asking fans to commit membership fees, ticket money, time and emotional capital into the project. Ask Derby or Bury fans whether team ownership is their business. Quote Link to comment Share on other sites More sharing options...
The Phantom Posted June 6, 2022 Share Posted June 6, 2022 12 minutes ago, Declan said: Ask Derby or Bury fans whether team ownership is their business. Funnily enough, I have zero interest in Football; however one of my good friends is a lifelong Derby fan and an accountant. I have therefore (unwillingly) been educated at length in their particular financial traumas! 2 1 Quote Link to comment Share on other sites More sharing options...
Two-lane Posted June 6, 2022 Share Posted June 6, 2022 I did not see anything on the Grogga website that said whether the gas would be piped to England for processing, or if it would be processed on the island. If it is to be processed here, one of these is necessary - this is Rampside near Morecambe: Quote Link to comment Share on other sites More sharing options...
The Phantom Posted June 6, 2022 Share Posted June 6, 2022 1 minute ago, Two-lane said: I did not see anything on the Grogga website that said whether the gas would be piped to England for processing, or if it would be processed on the island. If it is to be processed here, one of these is necessary - this is Rampside near Morecambe: Be an improvement for Ramsey 4 Quote Link to comment Share on other sites More sharing options...
0bserver Posted June 6, 2022 Share Posted June 6, 2022 17 minutes ago, Two-lane said: I did not see anything on the Grogga website that said whether the gas would be piped to England for processing, or if it would be processed on the island. If it is to be processed here, one of these is necessary - this is Rampside near Morecambe: It's coming onshore to the IOM so that VAT can be applied locally (otherwise the UK would get the VAT). That's an example of a 1970's plant. Not a 21st century version which would be smaller. 2 Quote Link to comment Share on other sites More sharing options...
Mercenary Posted June 6, 2022 Share Posted June 6, 2022 19 minutes ago, 0bserver said: It's coming onshore to the IOM so that VAT can be applied locally (otherwise the UK would get the VAT). That's an example of a 1970's plant. Not a 21st century version which would be smaller. If there's no IOMG financing why would they care where VAT is applied? Presumably it would just be on where is more economical. Quote Link to comment Share on other sites More sharing options...
Gladys Posted June 6, 2022 Share Posted June 6, 2022 3 minutes ago, Mercenary said: If there's no IOMG financing why would they care where VAT is applied? Presumably it would just be on where is more economical. Because we get the benefit of the VAT? Quote Link to comment Share on other sites More sharing options...
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