Brian Cowen (Laois-Offaly, Fianna Fail)

This is not a matter to which the Government is giving active consideration. However, 30 years ago, in light of the second oil crisis, the problem of our dependence on fossil fuels and the fact that the question of climate change had not yet arisen, it was a valid subject for examination. At present, energy independence is not only a fashionable but also an important topic of discussion and policy formulation throughout the world. The issue to which the Deputy refers was brought into sharp relief 30 years ago in the context of the impact on our balance of payments and the significant rise in oil revenues. In addition, gas had not been accessed in our territorial waters at that stage. Exploration, resource management and the ability to identify natural resources which could be commercialised were live political issues at the time.

One can examine papers that are 30 years old with the benefit of hindsight and experience. Many of the developments that have taken place would militate against the requirement for Ireland to consider such a proposal at present. The putting in place of a number of interconnectors to allow Ireland operate within a wider regional energy market probably represents the best means by which we can ensure we will be able to generate our own capacity and have access to other supplies of electricity that are competitively priced.

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