asked the Minister for Transport and Power what is the position with regard to the proposal mentioned in Chapter 9, Para. 41 of the Second Programme for Economic Expansion that a large tanker be acquired by Irish Shipping at a cost of about £2.5 million.
Ceisteanna—Questions. Oral Answers. - Acquisition of Tanker.
61.
Irish Shipping Ltd. have not so far found it possible to secure a remunerative long-term charter for a large-size tanker. The company have added one bulk carrier of 38,000 tons to its fleet and expects to take delivery of two 30,000 ton bulk carriers next December and March respectively. These vessels are all expected to be remunerative.
Is the Minister aware of the desirability of our having a capacity of this kind in our possession in the event of a further emergency and in view of what happened on the last occasion?
I am well aware of the need to safeguard the minimum of oil supplies but, balancing the situation out, the principal safeguard is the maintenance of reserve stocks and we are party to an OECD programme in this respect. The stocks situation has been improved considerably by the advent of the Whitegate refinery and particularly by the advent of the Gulf Oil Corporation at Whiddy Island. This has guaranteed basic minimum stocks that might otherwise be required at considerable expense.