Exploration lobbyist warns of higher energy costs if drilling is banned
Consumer energy bills could increase by as much as 23% if Ireland is forced to continue importing its oil and gas requirements by self-imposing a ban on offshore drilling, an industry group has warned.
Upping the rhetoric in an escalating battle over the future of the oil and gas exploration sector, here, the Irish Offshore Operators' Association (IOOA) - which represents Irish-focused exploration companies - said that any disruption to Russia's gas supply into Europe could result in a 22.9% increase in Irish gas prices and a 15.5% rise in average electricity prices.
