Trevor Ó Clochartaigh (Sinn Fein) | Oireachtas source

Ba mhaith liom gach deaghuí a ghuí ar na hiomaitheoirí ar fad a bhéas ag glacadh páirte sna Cluichí Oilimpeacha Speisialta, grúpa iontach de lúthchleasaithe. Déanann siad sár jab dúinn agus is iontach an grúpa daoine iad. Ba mhaith liom tacú freisin leis an moladh atá déanta go dtiocfadh an tAire Cumarsáide, Fuinnimh agus Acmhainní Nádúrtha, an Teachta Rabbitte, os comhair an tSeanaid le plé a dhéanamh ar ghnóthaí éagsúla. I note this morning that the exploration company, Providence Resources, has said that tests show that there is a significant oil potential at its Rathlin Basin prospect off the coast of Northern Ireland. There are suggestions that it could contain more than 500 million barrels of recoverable oil. This is the third needle in the haystack that has been found in the past couple of months. We were told by the Minister for Communications, Energy and Natural Resources, Deputy Pat Rabbitte, only a couple of months ago that prospecting for oil off the coast of Ireland was like finding a needle in a haystack. They must be very lucky as they have found three in recent months and there is a substantial amount of oil there.

It is important that we have a debate on the way in which we are handling our natural resources, one of which is wind. I would be concerned about the privatisation of wind energy and the fact that the State is not getting the best return from the potential wind energy, wave energy and tidal energy. We have had a joint committee report on the licensing regime for the oil and gas industry but I am concerned that we have not seen legislation to amend the legislation which regulates this area. According to those who are knowledgeable in this area, the legislation which regulates this issue is extremely favourable to the oil companies. The Government's role in this issue is to represent the needs of citizens and of the State and at times of economic crisis, such as this, many people consider that we could get a much better return from our oil and gas resources. A serious debate is needed to ensure new legislation is introduced to ensure that these oil finds reap the benefits for people.

The wind energy issue is also important. I note we do not yet have a national strategy on wind energy. I am concerned that we are giving away licences in the wind energy area in the same way as we give away the oil licences. As it will be too late to regulate the industry when all the licences are given away, we certainly need a debate on the issue as soon as possible to ensure the best return for the State on all these assets.