Oil Supplies.

Oral Answers to Questions — Trade and Commerce. – in the House of Commons at on 27 May 1924.

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Photo of Mr Walter Ayles Mr Walter Ayles , Bristol North

14.

asked the President of the Board of Trade what part of the oil supplies of the world is in the hands of or controlled by the Standard and Royal Dutch oil combines; what steps have been taken by His Majesty's Government to adequately safeguard the supply for national necessities; and what steps, if any, are being taken to encourage research in the direction of the distillation of oil from coal and the production of industrial alcohol?

Mr. WEBB:

With regard to the first part of the question, the extent of the known resources of the world in oil is not sufficiently defined to enable me to give exact information. As regards the second part, the decision of the Government to retain their holding in the Anglo-Persian Oil Company is an indication of their desire to maintain an independent source of oil supplies. As regards the third part, I would refer the hon. Member to the replies given to similar questions by the hon. Member for Springburn on the 12th February, and by the hon. Member for Acton on the 2nd April.

Photo of Mr Walter Ayles Mr Walter Ayles , Bristol North

In the absence of accurate and precise information, can the right hon. Gentleman give some approximate information with regard to the first part of the question?

Mr. WEBB:

It is a matter of common knowledge that probably half the oil supplies of the world during the past year has been supplied by the two combines named.

Photo of Mr John Jones Mr John Jones , West Ham Silvertown

Does that include "palm oil"?