Fuel and Power Industries

Part of the debate – in the House of Commons at 12:00 am on 10 March 1972.

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One can say that that is the 150 million tons I am talking about, but there is a little problem which the hon. Gentleman did not mention—that this 150 million tons will have to be shared between all the countries of Western Europe which have an interest in North Sea oil, since demand for oil in Western Europe is growing at about 10 per cent. a year and the ultimate potential of the North Sea may represent no more than two years' growth in Western European oil requirements. It is not very likely that the Norwegians, the Dutch and the Danes will stand aside politely and say, "After you, Mr. Farr. You can have it for your requirements in Britain". It is a shared amount.