Pat Rabbitte (Dublin South West, Labour)

As Deputy Murphy will know, the experts differ on the definition of peak oil and when it will be reached. The central point remains, namely, that the extent to which the State relies on the importation of fossil fuels is critical. That is indisputable and I accept it, but there is an ambitious programme under way to develop our capacity in renewable energy.

The Deputy's asked whether there are initiatives in addition to those making a contribution to energy efficiency that would create jobs but which are constrained by the current economic environment. The honest answer is that there are. There is no doubt but that the area of retrofitting in the residential sector, for example, offers great potential for energy saving, given the standard of housing. Retrofitting has a significant spin-off in terms of employment. The additional €30 million we invested in this area this year through the jobs initiative means there are now almost 6,000 people employed at retrofitting. The answer to Deputy Murphy's question is that, if I were able to invest thrice as much, it would have a commensurate result in terms of energy savings and job creation. We are constrained by the financial circumstances.

See this speech in context