§ 1. Mr. Fitchasked the Minister of Power if he will state the amount of fuel oil consumed in the United Kingdom in the first quarter of 1959 and the first quarter of 1960, respectively, and the amount of fuel oil produced in the United Kingdom in the first quarter of 1959, and the first quarter of 1960, respectively.
§ The Minister of Power (Mr. Richard Wood)In these two periods consumption was 3.8 and 5.0 million tons, and production 3.9 and 4.4 million tons.
§ Mr. FitchDoes the right hon. Gentleman agree that it seems apparent from the figures he has given that the difference between consumption and production over this period was made up by imported fuel oil? What is the policy of the Government towards this? Does the right hon. Gentleman believe that fuel oil should continue to be imported in greater amounts and unrestricted? Is the right hon. Gentleman aware that the German and French Governments are contemplating restricting the use of fuel oil? Will not that react unfavourably here?
§ Mr. WoodAs I told the hon. Gentleman on another occasion, I intend to watch the position very carefully. I have given the hon. Gentleman the 3 figures for the first quarters of these years. In April of this year production equalled consumption, and I am given to believe that over the year as a whole production and consumption will roughly balance.
Mr. LeeWill the right hon. Gentleman have a look at the whole position in relation to the balance of payments? We have had our arguments about this. I do not think that as yet any clear statistical analysis of it has been made. One's impression is that it is now becoming quite a drain on our balance of payments position.
§ Mr. WoodThe effects on our balance of payments position of importing fuel oil and importing crude oil to make fuel oil are not very different.