North Sea Oil

Part of the debate – in the House of Commons at 12:00 am on 6 July 1979.

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Photo of Mr Alan Clark Mr Alan Clark , Plymouth, Sutton 12:00, 6 July 1979

What does the hon. Gentleman mean by talking about "international allocations"? The Americans are buying this oil in the open market. I agree with the hon. Gentleman that many aspects of American policy are extremely ill-judged. However, I do not understand his flight of Socialist fantasy in believing that there is such a thing as an international allocation and that it is working along dirigiste lines, as he seems to imply.