Saturday, 17 March 2012 13:47
The following text is from a blog post of Alex Bramwell's Sunshine Guide.
The Spanish Government has approved oil giant REPSOL's plans to prospect for oil 70km off the east coast of Fuerteventura and Lanzarote. The move is deeply unpopular in the Canary Islands. Locals are concerned that any money made from oil will head back to the mainland, while any oil spills will destroy our tourist trade.
An oil strike off the Canary Islands is a decidely mixed blessing. It would make the islands one of the luckiest places on Earth: Where else has perfect weather all year round and untold riches underground? It could also turn into a disaster scenario with oil slicks coating the island beaches, and destroying the tourism and fishing industries.
With the oil fields being far offshore, most of the prospecting work will be done by Peninsular companies from Spain, employing Spanish, and not Canarian, workers. Jobs on the islands will come from oil rig repairs and maintenance, and in any storage or refining plants set up to deal with the oil. REPSOL estimates that a significant oil strike will create up to 5000 sorely needed jobs in the islands over the next 30 years. It has also estimated that up to 10,000 million euros would be invested in the islands. Serious money!
(Click Read more... down below to read the rest of the article.)
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