Oireachtas Joint and Select Committees

Tuesday, 18 February 2014

Joint Oireachtas Committee on Environment, Culture and the Gaeltacht

Electricity Generation and Export: Discussion

6:55 pm

Mr. Joseph Caulfield:

A point that has not been made at this meeting thus far is there is no law stating we must help the United Kingdom to meet its targets. If the United Kingdom wishes to meet its targets, the best of luck to it. I do not know how it will so do and do not really care. No regulation, rule or resolution states that Ireland has an obligation to help the United Kingdom to meet its targets. Essentially, what is being pursued here is profit. Ireland is not attempting to abide by a law and is not trying to be compliant with a rule or regulation. What is being pursued here simply is profit and Ireland has no obligation to help the United Kingdom in any way, shape or form. We can wish them the best of luck in meeting their targets, however they do it. They probably will meet them through the use of nuclear power and fracking anyway but we have no obligation to do this. What is being pursued here is pure profit on the part of a number of different entities, including a Wall Street hedge fund based in Teaneck, New Jersey.