Dáil Éireann Debate, Thursday - 21 October 2004
47 Mr. Sargent asked the Minister for Communications, Marine and Natural Resources if he has carried out an analysis of the phenomenon of peak oil and the possible consequences for the economy here following a global reduction in oil production. [25762/04]
Amharc ar fhreagraAgainst the background of the conventional view of what is meant by "peak oil", the question of determining the date and impact of the peak and decline of the world's oil — and, indeed, gas — production, is a matter of world-wide concern and is the focus of many, often conflicting research studies, views and opinions.
Even if there were no environmental aspects to the burning of fossil fuels, oil — allowing for new finds and improvements in extraction technologies — is a finite resource. Reliance on oil must therefore be substituted over time if world economic development and living standards are to be sustained.
The environmental impacts and the finite nature of fossil fuels are therefore the key drivers in the role of research into sustainable and renewable energy sources.
While I have not commissioned specific analysis into the area of "peak oil" research, Ireland, as a member both of the European Union and of the International Energy Agency, IEA, has access to relevant energy research undertaken within these fora.
