Tommy Broughan (Dublin North East, Labour)

I thank Deputy Durkan.

I support amendment No. 12. Many issues have arisen over the past year, particularly the last six to nine months, regarding the oil industry and its distribution network. At present, we do not seem to have any agency other than the Competition Authority to take account of the market's competitive nature. The past year has seen substantial increases in oil prices and petrol forecourt prices. There was a major development in the market whereby Topaz Energy Limited effectively took over a very large segment of the market — I believe over 40% — through ownership of Shell and now the former Statoil market. In that context, the Competition Authority did not carry out its requisite public duty in respect of the timing of the takeover and, unbelievably, missed the day on which it should have made a particular comment. If a Member of the House missed an important deadline of that nature — for example, in respect of the five-week date that applies to local authority planning applications or with regard to An Bord Pleanála — it would be considered a grave error by our constituents. Action has not, however, been taken by the Minister for Enterprise, Trade and Employment in respect of the matter to which I refer.

We are discussing amendment No. 12 but amendment No. 11 in my name, which was dealt with previously, sought to add a role for NORA in the invigilation of the oil industry. Under that amendment, NORA would have been obliged to be aware of the levels of stocks held privately within the industry and to play a key role in assessing both the forward pricing of oil and the purchasing of oil. It was stated recently that Mr. Michael O'Leary of Ryanair seems to have a particular skill in respect of the forward purchasing of kerosene stocks for his company's fleet of aircraft. This seems to be one of the reasons, as announced in recent days, Ryanair's six-monthly profits increased by €100 million. It is also why Mr. O'Leary appears to have a great deal of success in that area. I profoundly disagree with the latter's way of conducting his business and dealing with his company's workforce, but he appears to possess a particular skill in respect of forward purchasing.

Amendment No. 11 sought to add to the functions outlined in the Bill another role for NORA. The Minister will state that it will possess a narrow role and that the CER would be best equipped to deal with matters that arise in this area. However, the CER has, to date, not been given a statutory role in respect of the liquid fuels market. In a debate on previous energy legislation, somebody referred to the great competition that exists in that market and contrasted it with the position relating to the gas and electricity markets. As any comparison of forecourt prices throughout the country will clearly show, however, there appears to be little competition.

There is a great deal of merit in bestowing a role, particularly in respect of the collation of information, upon NORA. The latter could also work with the CER, perhaps under future legislation, to introduce proper invigilation of the market. The Minister will be disappointed that the Competition Authority failed to discharge its statutory duty in this regard in respect of the Topaz takeover, which is an astonishing state of affairs. Perhaps he will agree that the only way forward is to consider granting particular roles to NORA and the CER in this regard.

When I was obliged to leave the Chamber earlier, we were dealing with amendments Nos. 8 to 10, inclusive. We are now dealing with amendments Nos. 11——

See this speech in context