Michael Colreavy (Sligo-North Leitrim, Sinn Fein) | Oireachtas source

They should be forwarded to the spokespersons as speedily as possible. As I do not believe Members will get to this issue during Question Time, I have a further question. There is growing evidence that hydraulic fracturing and those involved in it are part of a giant Ponzi scheme, because it is costing three times as much as had been projected to get the volume of gas they are getting in the United States. Will the Minister of State ensure there is an independent, not an industry-based, study, into the real economics of hydraulic fracturing? Will such an independent study feed into the eventual decision over and above the report from the EPA? There are real fears in some jurisdictions that where negotiations have yielded some financial payback to governments, it is offset by the additional costs involved therein. There are real fears that those who are investing in hydraulic fracturing now are getting extremely jittery and worried and that banks are pushing the companies involved to drill to an ever increasing extent to cover the initial outlay.

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