Oireachtas Joint and Select Committees

Wednesday, 23 March 2022

Joint Oireachtas Committee on Transport, Tourism and Sport

Fuel Prices: Discussion

Photo of Ruairi Ó MurchúRuairi Ó Murchú (Louth, Sinn Fein) | Oireachtas source

We are having to look in different places to a degree. Everybody across Europe is fighting for the same supply and it takes time to ramp up. I understand that we need to move to renewables, but we will not be able to introduce the volume of wind energy needed overnight, even if everything goes correctly from here on. Is there sufficient supply for us at this point? I understand there will be price issues. Is the suggestion that the oil majors will use this opportunity correct? In the long term, people will move away from oil and oil prices have not been high for a while, so now is the chance to make money.

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