Over-reliance on oil ‘a threat’ to our economy

IRELAND’S overdependence on dwindling supplies of oil poses a significant burden to the economy and a threat to future energy security, a leading international report published yesterday revealed.

The International Energy Agency’s (IEA) Irish review analysed the energy challenges facing the country and outlined a number of alternatives to improve efficiency, including the importance of developing an all-Ireland energy market, due to come into force in November.

Though praising the Government’s White Paper on Energy, the report called for an end to the country’s over-reliance on oil and more use of renewable energy sources.