As if the implications of the unfolding global financial crisis weren’t bad enough, the Irish economy must also contend with the consequences of a banking system exposed to unprecedented property-related debts. Reflecting on the ongoing crisis, Richard Douthwaite explains why investment in local energy innovation may prove the key to improving Ireland’s economic health

Whilst the recent falls in oil prices may appear to be a welcome relief in difficult economic times, they may ultimately prove to do more damage than good. As falling oil prices today cause oil companies to invest less in new production to meet future demand, prices will increase once more.

Much of the debate on reducing international carbon emissions has focused on the extra cost of making the necessary cuts to slow the onset of climate change. According to Richard Douthwaite, the Irish Government is considering introducing Cap and Share, a system which would actually earn ordinary Irish people money for reducing emissions.