HC Deb 13 March 1950 vol 472 cc733-4
26. Mr. Harold Davies

asked the Minister of Fuel and Power if he is able to make a statement on the effect on this country of the Economic Co-operation Administration's decision to withhold recovery funds from the British oil industry as a result of our decision to restrict American oil imports.

Mr. Noel-Baker

I am aware of the statements made before Congress on behalf of the Economic Co-operation Administration, but as discussions on the oil problem are still going on with the Government of the United States, I regret that there is no statement that I can usefully make.

Mr. Davies

Will my right hon. Friend make a statement to the House when he can? Further, will he emphatically demonstrate to E.C.A. that any interference with adequate production of sterling oil limits the speed of recovery of Western Europe and Britain? Lastly, does not this serious position expose the foolish, cheap political appeal of the Opposition during the Election to give petrol ad lib.?

Mr. Noel-Baker

I shall certainly make a statement as soon as I can. If my hon. Friend will study the text of the statement made on behalf of E.C.A. he will see that they have by no means closed the door.

Sir H. Williams

Does not the trouble really arise from the fact that there is a world glut of petroleum and not a shortage? If not, what is the argument all about?