Humphrey Carter10/04/2014 00:00
TW
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Last week, the former Socialist President of the Balearics, FrancescAntich, claimed around half a million euros would have to be paid in compensation if the gas and oil prospecting permits his government approved were cancelled.

Palma.—However, it appears that he had got his sums wrong and the current Partido Popular government would be facing compensation claims of over 83 million euros if they over ruled the permits awarded to the British company Cairn Energy to prospect for oil and gas in Balearic waters.
The Balearic MPand spokespersonfor the ruling Partido Popular in Madrid, Miguel Ramis, yesterday repeated that all political parties from both sides of parliament in the region are opposed to oil and gas prospecting being allowed to go ahead in local waters.
But, he explained that he voted in favour of not stopping prospecting from going ahead in congress, in Madrid, on Tuesday “because, unlike the former Socialist governments, the PPis very conscious and careful about what it does with public funds and if we were to over rule the permits, the government would have to pay at least 83 million euros in compensation.”