Denis Naughten (Roscommon-Galway, Independent) | Oireachtas source

Do fossil fuel reserves provide Ireland with the energy security it needs? This is the key question that has delayed the progression of the Bill. There have been significant policy developments on the part of the Government in this area since the Dáil dealt with the issue 13 months ago. Project Ireland 2040 commits us to the removal of dirty fossil fuels - coal, oil and peat - from electricity generation by 2027; their removal from our heating systems by 2035; and cars that use fossil fuels are to be taken off our roads by 2045. Our dependence on oil is set to decrease significantly over the next 15 years, which is the likely timeline for landing any oil found in the deep waters off our Atlantic coast.

In the past 40 years, we have had just four commercial gas finds. Basing future energy security on the possibility of an oil find is like playing roulette and living in hope. Contrast that with the renewable electricity potential off our coast, which, at 50 GW, is enough to meet the daily electricity demands of France and Austria combined. If we established an offshore renewable development authority, we could auction off this electricity. Crucially, this energy is owned by the Irish people and the money it would generate could be used to reduce the cost of clean electricity to families across the State.

One of the things Ireland is good at is producing food. As we develop our green image in key food markets around the globe in the coming decade it will be very difficult to justify Ireland's continued facilitation of oil exploration, especially when it is becoming the global leader in offshore renewable electricity production. The Government of the day could be put in the dreadful position where it might have to buy back the rights to these oil reserves that it is currently awarding. We need to press the pause button now and not wait for new laws to be introduced.

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