Tim Lombard (Fine Gael) | Oireachtas source

I would like to mention an issue that has been raised by many Senators, namely, the energy crisis that we are dealing with at the moment. Oil prices, in particular, are reaching nearly €200 a barrel today. I think this is considered to be the largest energy shock we have ever seen in the history of the new world, as they say. It puts us in a completely different space. We need to start talking about energy security and where Ireland fits into it with its own energy security policy. Is it appropriate or logical for us to be importing oil or gas from Russia? Is that going to be our long-term aim? We all know there is a renewable policy, but that will not deliver in time for where we are at the moment. We have our own natural resources. We have natural resources off the coast of west Cork in the Barryroe oil field that has not been exploited. A terminal is being proposed for Ballylongford in County Limerick, which is also an important part of the ethos of Ireland. When natural gas is brought in, it is regarded as a transition fuel between now and 2050. There is also the potential to extend that gas field currently in operation in County Mayo that produces 40% of our gas. We need to have a comprehensive debate on how we are going to ensure we can be self-sufficient as possible when it comes to gas and oil going forward to reach our demands between now and 2050. It is not appropriate for us to put our hands up now and say that we will keep it going by using renewables. Renewables are part of that process, but they will not feed us going forward. We are in a new world and regime. We have seen how the war over the last 16 days has had a huge impact on oil and gas prices. That is going to be a huge issue for our society. We need to have a real change in policy when it comes to oil and gas in this country. We need to exploit whatever resources we have until we get our renewables set up. That will present very hard choices for some people. Those choices involve, hopefully, deciding to build an LNG terminal and trying to exploit whatever resources we have to make sure we are self-sufficient.