Oireachtas Joint and Select Committees

Wednesday, 6 July 2022

Select Committee on Transport, Tourism and Sport

Estimates for Public Services 2022
Vote 29 - Environment, Climate and Communications (Supplementary)

Photo of Eamon RyanEamon Ryan (Dublin Bay South, Green Party) | Oireachtas source

It is unlikely in the next six months, at least. The situation in respect of oil is not as precarious for Europe because Russian exports account for 3 million of 100 million barrels a day in terms of the global market for oil. Oil is a more fungible market product and there are alternative routes for it to get into the market. It is difficult to be precise but, in a European context, gas security is a more significant issue than oil security at the moment. That could change. What we do in terms of budget measures will have to wait until September. What I have been saying is that, due to the high price of gas and the likely high price of electricity as a result, as well as the ongoing high price of oil, we should be looking at as many targeted measures as possible to protect those at risk of fuel poverty. Exactly what those measures will be and how we deliver them are matters for the budget in September.

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