Martin Ferris (Kerry North-West Limerick, Sinn Fein)

It is ironic that we are discussing Corrib at a time when it is in the news again for the wrong reason, namely, allegations about an audiotape of gardaí in the back of a car talking about the use of rape against two protestors. Equally disturbing if the contents of the audiotape are true, some of the commentary was derogatory towards protestors but favourable towards oil companies.

In the context of a review, will the Minister argue that the State should reinstate the type of fiscal regime put in place by the late Labour energy Minister, Justin Keating, in the 1970s? Under it, the State had holdings of 50% and between 6% and 7% in royalties. The Minister will probably remember how the stake was lowered by Dick Spring, but it was subsequently devastated by Ray Burke, who abandoned the State's share altogether. Does the Minister agree that, at a time when we are loaded down with an unpayable bank debt, the State should reinstate the sort of regime that Justin Keating put in place to ensure our people benefit from Corrib and other reserves when they come on stream? What is required is something that was advocated in the mid-1970s by one of the Minister's former parties, namely, Sinn Féin The Workers' Party. He might be able to correct me on the date. That party supported the objective of a resources protection campaign, something that was supported by members of the Labour Party.

In 1995, a group stated that a large area of the nation's offshore rights had been conceded for a pittance. Does the Minister agree that what was done at that point and in subsequent negotiations with oil companies has done significant damage to the potential resources off our north-west and west coast?

I have personal experience of working on the rigs on the Porcupine Bank. In 1978 and 1981 there were finds and the depth was approximately 1,600 ft., so they were not seen as commercially viable. The geology reports from the time indicated the finds could be substantial but because of the depth of water, the technology was not available at the time to access the resources and bring them ashore.

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