Pat Rabbitte (Dublin South West, Labour) | Oireachtas source

I agree with Deputy Fleming about the importance of landing an LNG project for Tarbert. It would be a considerable boost to the local area. Even more importantly, it would be an additional string in this country's energy security bow. As the Deputy knows, the matter is before the High Court at the moment. I hope a decision will be handed down before the courts rise for the summer recess.

I would like to respond briefly to what the Deputy said about the oil and gas situation. I suppose one can prove anything with statistics. I do not know whether there are 10 billion barrels out there. I would settle for much less if we could make a strike between now and Christmas. The problem is that we will not know unless we can increase the level of exploration. We need to do that and we are trying to do so. In other words, we need to fix the fiscal regime at a level that does not frighten off companies that are likely to explore and drill. The Deputy's question referred to Dunquin, for example. When of all that business is finished, there will be very little change out of €200 million. It is extremely costly. Obviously, the State does not have that kind of money.

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