John Browne (Wexford, Fianna Fail)

At the end of December 2006, Ireland held 113 days of stocks, 75 of which were held within the State. Subsection (4) of section 33, as agreed on Committee Stage, makes specific provision for circumstances which, in the Minister's view, may warrant a need for specific volumes of particular categories of oil stocks to be held in the State. Examples of particular categories of stocks include petrol and diesel.

Taking account of our island status, I am strongly of the view that the powers provided for in section 33(4) are justified and warranted in the event of a possible oil supply disruption. The text of the Bill as it stands is more specific than the Deputy's amendment. I am not disposed to accept the amendment.

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