Energy Resources: Motion (Resumed).
I am grateful to the Technical Group for tabling the motion because it clearly demonstrates that the election is on. Thankfully, the people are being provided with a choice.
It is a choice between reverting to the protectionist policies of the 1930s, which brought this country to its knees, or exploiting and bringing the reserves we know of to more citizens to provide opp...
The motion was concocted in a fit of enthusiasm because three leaders in Latin America, Hugo Chavez, Evo Morales and Fidel Castro, met at the weekend.
The Deputies decided that they wanted a bit of it. What the motion fails to recognise is that Ireland does not have the reserves of either Venezuela or Bolivia.
A Government must be responsible and the Technical Group will never really need to recognise this responsibility.
A Government must be responsible and operate policies for the real world.
Deputies across the floor might have a fanciful notion that the State can hold the risk that comes with exploitation. Have they examined how much it costs to evaluate our reserves? A reserve is someth...
How will this be financed?
Day after day they ask that Ireland be independent in terms of energy generation and state how important that is.
How will we ever find or locate any reserves that may exist?
The risk involved is high as Ireland’s oil exploration success rate has been one in 50.
However, the worldwide norm is one in ten. Previously, the Opposition Deputies were shouting about Norway. The rate there is one in four and Members should face the geographic realities of our country...
The Deputies on the other side are not doing their cause any good. At best, this is a request to revert to the protectionist policies of the 1930s. At worst, this is akin to a university Marxist socie...
The Technical Group members want to renegotiate the terms to have 50% return to the State. However, one must recognise the risk. Is it prudent for the State to seek this——
——when we have an oil exploration success rate of one in 50? As the Minister stated last night, one could as easily back a horse with the State’s money. This is not a good idea.
The fiscal terms reflect the responsibility——
Forgive the interruptions, because my time is limited, but I will correct the Deputy on one point. It is prudent for any Government, and perhaps the Deputy will get his chance to find out about it——
——to review taxation policies on an ongoing basis. That is wise.
I have been interrupted endlessly by the Opposition side.
Not a bit of it.
As for the proposals before the House, while all Members have the best interests of the country at heart, the best interests of the citizens are served by the exploration of reserves and by developing...
I will conclude on this point. The proposals in this motion are a severe deterrent to this State and will not help anyone. As the Minister said, 0% of nothing is nothing.
The Deputy is a clever man. The point is that the end result is zero.
They were lucky to have such resources.