§ 19. Mr. Arbuthnotasked the Minister of Fuel and Power what is the percentage dollar content in imports of petrol from Bahrein, Kuwait, Qatar, Trucial Oman, British West Indies, Dutch West India 834 Islands, Saudi Arabia, Iran and Venezuela, respectively.
§ Mr. P. Noel-BakerI regret that it is impossible to calculate the dollar cost of petrol, as distinct from the dollar cost of the other oil products with which it is produced. It would be misleading to calculate the costs of an oil company's operations in one territory alone; most companies operate in many places, including some not mentioned by the hon. Member. In some of the territories which he does mention, the oil is produced by British companies; in others, by companies from the United States; in yet others, by both British and American companies. It is estimated that the average dollar content of oil produced by all British controlled companies is about 30 per cent. of its value; the average dollar cost of oil imported into the sterling area by United States companies is at present about 90 per cent.