According to a Government report released in 2006, entitled “Atlantic Ireland- An Exciting Petroleum Province”, Ireland has discovered Oil and Gas reserves which could be worth up to One Trillion dollars at 2006 market prices. The Corrib Gas field identified in that report is already supplying natural gas to Ireland, The Irish Owned Barryroe Oil field also identified in that report has been tested proven and capped awaiting only for higher oil prices. and the natural gas from the Spanish Point Gas field also identified in that report can be delivered through the Corrib Gas Infrastructure. All of the above can provide long term security of energy supply for Ireland. But in a Hark-Back to Trevelyan’s Corn Laws (during the Famine) which destroyed much of Ireland. The Irish government at the insistence of the European Commission allows Irish Natural Gas to be sold by a Canadian private company “Vermillion Energy” at inflated market prices. The Corrib Gas Field is not affected by the Russian threats to European Energy Supplies, and there are no extra costs associated with the Russia / Ukraine war to justify an increase in Gas prices from the Corrib Field. For further information see: Irelands Natural Resources
While we must move away from dependence on fossil fuels, we presently have our own supply and should insist it be provided at reasonable cost to the Irish consumer.