Dáil debates

Thursday, 16 July 2020

National Oil Reserves Agency (Amendment) and Provision of Central Treasury Services Bill 2020: Committee and Remaining Stages

 

2:00 pm

Photo of Denis NaughtenDenis Naughten (Roscommon-Galway, Independent) | Oireachtas source

I move amendment No. 2:

In page 6, to delete lines 15 to 21 and substitute the following: “(a) in subsection (1)—
(i) by the substitution of the following paragraph for paragraph (a):
“(a) maintaining, in accordance with Part 4, oil stocks, including measures to reduce the demand for oil within the State,”
and

(ii) by the substitution of the following paragraph for paragraph (c):
“(c) (i) collecting and recovering the levy, and

(ii) paying into the Climate Action Fund, out of the proceeds of the levy collected and recovered, such amount as is specified by the Minister pursuant to a direction (if any) given under section 37A,”,”.

Amendments Nos. 2 and 3 are related to amendment No. 4, which we will come to in a few minutes. They are pretty self-explanatory. I am looking for the role and function of NORA to be expanded not only to consider oil stocks and storage but also to come up with measures to reduce the demand for oil in the State. If we increase the use of renewable energy and improve energy efficiency, it will have an impact on the amount of oil we need to store. This comes under the terms and conditions of NORA. I want to alter its purpose slightly to allow the purpose for which the levy is collected to change. We will come to that purpose under amendment No. 4. That is the purpose of these two amendments.

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