Dáil debates

Wednesday, 8 November 2006

National Oil Reserves Agency Bill 2006: Report Stage (Resumed)

 

4:00 pm

Photo of Bernard DurkanBernard Durkan (Kildare North, Fine Gael)

I understand what the Minister is saying but my intention is to give the agency an edge somewhat similar to that which applies to the NTMA. The role NORA will play in the fuel industry is similar to that played by the NTMA. The amendment merely seeks to sharpen the focus in respect of the provisions of the Bill and the functions of the agency. If the country had adequate storage capacity, a number of weeks ago we could have bought enough gas to last for a year because there was so much available on the international market. The markets can change quickly and it is the agency's function to respond accordingly. Perhaps greater emphasis could be made in that regard.

The amendment was drafted in a hurry. One often does not have adequate time to draft amendments and sometimes they do not look great when they appear in print. If the Minister is of the view that the amendment is unnecessary and that the intention behind it is already contemplated in the Bill, I will withdraw it.

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