Oireachtas Joint and Select Committees

Tuesday, 3 July 2018

Joint Oireachtas Committee on Communications, Climate Action and Environment

Scrutiny of Petroleum and Other Mineral Development (Amendment) (Climate Emergency Measures) Bill 2018: Discussion

3:00 pm

Photo of Eamon RyanEamon Ryan (Dublin Bay South, Green Party)
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I remember newspaper headlines all over the world at the time about the luck of the Irish, leprechaun gold at the end of the rainbow and how we were going to have a bonanza. It has not come ashore because it is not economical. Operating in deep waters is expensive. The Celtic Sea is not even that deep. Indeed, its waters are fairly shallow. Every year we are promised that it is about to be sold out or a partner is about to buy into it. It has been seven years and we are still waiting. It is all a speculative bubble.