To say that someone "can't drink fog" is to say they're a lightweight at drinking.
It's history comes from many a Kerry man who has emerged from a pub after many pints, is suddenly hit by the air and immediately feels more drunk
The Foundary was a factory in Waterford where everyone's grandfather used to work. It was located down by the kay river. They used to pronounce it in this way due to the peculiar gutteral r sound of the old Waterford accent.