Economics
Despite being 360.5 km (224.0 mi) long, it rises only 76 m (256 feet) above sea level, so the river is easily navigable, with only a few locks along its length. There is a hydroelectric generation plant at Ardnacrusha belonging to the ESB.
Shipping in Shannon estuary was developed extensively during the 1980s, with over IR£2 billion (€2.5Billion) investment. A tanker terminal at Foynes and an oil jetty at Shannon Airport were built. In 1982 a large scale alumina extraction plant was built at Aughinish Island. 60,000 tonne cargo vessels now carry raw bauxite from West African mines to the plant, where it is refined to alumina. This is then exported to Canada where it is further refined to aluminium. 1985 saw the opening of a 915 MW coal-fired electricity plant at Moneypoint, fed by regular visits by 150,000 tonne bulk carriers.
Read more about this topic: River Shannon
Famous quotes containing the word economics:
“There is no such thing as a free lunch.”
—Anonymous.
An axiom from economics popular in the 1960s, the words have no known source, though have been dated to the 1840s, when they were used in saloons where snacks were offered to customers. Ascribed to an Italian immigrant outside Grand Central Station, New York, in Alistair Cooke’s America (epilogue, 1973)
“I am not prepared to accept the economics of a housewife.”
—Jacques Chirac (b. 1932)
“The new sound-sphere is global. It ripples at great speed across languages, ideologies, frontiers and races.... The economics of this musical esperanto is staggering. Rock and pop breed concentric worlds of fashion, setting and life-style. Popular music has brought with it sociologies of private and public manner, of group solidarity. The politics of Eden come loud.”
—George Steiner (b. 1929)