§ 7. Mr. Ainsleyasked the Minister of Power what were the total imports of oil into the United Kingdom in the years 1957, 1958, and 1959, respectively; and what are his estimates of imports in the next five years.
§ Mr. GeorgeThirty-nine million tons, 45 million tons, and 52 million tons, 834 respectively. I could not estimate imports for succeeding years but such indications as I have suggest that the rate of growth would be slowed down.
§ Mr. AinsleyIn view of the figures which the Minister has given, and the figures that he proposes in his estimates, how can the National Coal Board plan its resources for the next five years? Is it going to be based on an expanding industrial economy, or upon a stagnating or declining industrial economy such as we have today?
§ Mr. GeorgeThe National Coal Board has already made its plan until 1965, and my right hon. Friend has no reason to think that that plan will be very far out.
§ 8. Mr. Stonesasked the Minister of Power if he will institute a public inquiry into the costing and pricing policy of the oil industry.
§ Mr. StonesWould the right hon. Gentleman not agree that if the inquiry for which I have asked were instituted the findings would either prove or disprove the charges that are being made, that fuel oil is being dumped in this country at an uneconomic price in an effort to capture to a greater extent the fuel market to the disadvantage of our indigenous fuel industry?
§ Mr. WoodI am convinced, without an inquiry, that fuel prices are not being artificially forced down. First, I am convinced that the fuel oil business is remunerative, for the oil companies. Secondly, I am quite clear that prices in Britain are higher than on the Continent, which is open to the influx of Russian oil at cheap prices. Lastly, while motor spirit prices have fallen in the last ten years, fuel oil prices are in fact higher than they were in 1950.