Bernard Durkan (Kildare North, Fine Gael) | Oireachtas source

We could talk about silver linings on every cloud and about billions of barrels of oil pumping up out of the ground until we are all black in the face. However, the fact is that we would not be dealing with reality. The only way to deal with reality is to look at the number of commercial finds that were determined during the period in the 1970s that I mentioned and measure it carefully by reference to the period between then and now.

Deputies should be prepared to focus on the need to deal with the reality relating to banking as well. When I was on the committee that dealt with this issue a few short years ago, numerous people proposed how they would resolve the energy problems that were facing this country at the time. I remind the House that the economy was growing on a daily basis at the time. Annual growth rates of 10% or 12% were being achieved and much more was being anticipated. There was no doubt that there was going to be an energy problem. Given that the economy needs to expand if we are to ensure some form of economic sustainability for our people, please God we will have the situation where there will be an energy problem again. Proposals came from different quarters. I will not name those who made the proposals to be fair to them. It would not be fair at all. Some of the proposals that came before the committee involved this commercial enterprise being done on a not-for-profit basis. Can I ask the Leas-Cheann Comhairle if he would explore off our shores on a not-for-profit basis? Can I ask the Members who are so enthused by the whole idea of things being done on a not-for-profit basis if they would like to spend a couple of years or maybe ten years exploring off our windy shores with the waves breaking over their heads?

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