§ 21. Mr. Barnesasked the Secretary of State for Trade and Industry what assessment he has made of the implications for the British economy of the likely world oil shortage within the next 10 years.
§ Mr. Peter WalkerProspects for oil and other sources of energy are kept under continuing review.
§ Mr. BarnesIs it not the case that with the growth of demand, and the restrictions placed by some oil exporting companies on supplies, in about 10 years' time there will be a situation in which even with North Sea oil Britain will have to import large quantities of oil at sharply increased prices, placing a big burden on the balance of payments? Does not the right hon. Gentleman agree that as a matter of urgency the Government should develop policies to make us less dependent on oil?
§ Mr. WalkerThe less dependent on oil imports this country can become obviously the better. But in the next 10 years there will be a very considerable increase in production of both North Sea gas and oil, and also in nuclear energy and, I hope, a continuing contribution of importance from the coal industry.
§ Mr. BodyDoes my right hon. Friend accept or reject the view recently expressed by M. Spaak that North Sea oil belongs to the Community and should be regarded as a Community problem?
§ Mr. WalkerIf it is in territorial waters it belongs to the country concerned, but there is a need to develop a European policy towards energy, in which the member countries will take a full part.
§ Mr. EadieHas the right hon. Gentleman managed to take a look at the policy statement issued by the National Union of Mineworkers, one of the best policy statements which have been made and which pointed out that all fossil fuels—gas, coal and oil—are wasting assets? In the light of this, will he consider giving 27 the House an energy policy statement, which is badly needed in the interests of the nation?
§ Mr. WalkerI have not seen the National Union of Mineworkers' statement, but I will read it immediately.