Greens warn of oil price fallout

Green Party finance spokesman Dan Boyle says the warning in the European Central Bank’s monthly report that oil prices look likely to remain high carries serious consequences for the economy.

He said the economy is particularly endangered by this threat because of its dependence on imported fuel being the highest in Europe, running at more than twice the European average.

“The Government’s response to this threat seems to be nothing more than indifference. At the very least a long-term national energy strategy needs to be put in place.”