asked the Minister for Energy his views on whether Irish oil stock levels should be equal to the standards set by the IEA; and if he will make a statement on the matter.
Ceisteanna — Questions. Oral Answers. - Irish Oil Stock Levels.
17.
By reason of our IEA membership we are obliged to hold oil stocks equivalent to 90 days requirements. Over the years this figure has been met, save for occasional periods. According to the IEA's own published figures as at 1 January, 1988 Ireland held stocks of 92 days of our 1987 net oil imports.
What percentage of those 90 days are held on Irish soil?
I do not have that information but I will communicate with the Deputy.
Would the Minister be satisfied with a situation where at least one-fifth of our 90 day requirement is on Irish soil and if that were found to be the case following the Minister's investigation, does he intend to do something about it?
I would like to have an opportunity to consider that matter. Since I do not have the detailed information here I will communicate directly with the Deputy.
Is it not the case that the IEA standard would require stocks to be held on Irish soil?
It is, but not exclusively. There is provision for holding stocks elsewhere.
Question No. 18, please.
Surely you could not be satisfied with that?
It would depend on the percentage. I do not have the percentages now, admittedly but the possibility of having some stocks elsewhere may in certain circumstances be quite acceptable.
That seems a nonsense to me.