Vol. 407 No. 6
69 Mr. Barry asked the Minister for Energy the price mechanism he proposes to use to recover the difference in price between today's price for oil and the price paid by him for the emergency stocks; if legislation will be necessary in this regard; and if he will make a statement on the matter.
The stocks representing the 90-day security required under EC rules are held by the companies and by the INPC, and only an excess over the 90 days in the hands of the INPC is likely to be disposed of as and when no need is seen to hold such extra provision for a longer time from a security point of view. The timing of sales will be related to prices ruling in the market, but if a loss of sale arises, I have decided that it should be recovered by the Irish National Petroleum Corporation in the price of their products.
