§ 10. Mr. Bruceasked the Secretary of State for Energy what was the total United Kingdom oil production in 1985; and what is the total forecast for 1986.
§ Mr. Buchanan-SmithOur provisional estimate for total United Kingdom oil production in 1985 is 127.4 million tonnes. Equivalent output in 1986, as published in the 1985 Brown Book, is expected to be between 110 million and 130 million tonnes.
§ Mr. BruceWill the Minister acknowledge that this is substantially more than the net self-sufficiency which was the Government's original objective? Will he also acknowledge that although a fall in oil prices may be beneficial, the collapse of oil prices is not in anyone's interests, in this country or abroad? Does he accept that the time has come for the Government to talk to other oil producers about reducing North sea production?
§ Mr. Buchanan-SmithI am interested to hear the hon. Gentleman advocating our joining an oil producers' cartel. He forgets that Britain is a major consuming country and that its industry has major interests in that direction. I am surprised that, with his knowledge of the North sea, he does not know that the character of North sea production is different from that of the majority of OPEC countries.
§ Mr. Kenneth CarlisleWill my right hon. Friend reassure the House that, despite the current confusion in the oil industry, exploration and development in the North sea will not decline and that Britain will need that oil in the next decade?
§ Mr. Buchanan-SmithIt is significant that the oil companies tend to take a much longer-term view of the prospects of the North sea than do some Opposition Members.
§ Mr. OrmeShould not the Secretary of State make a statement to the House about the collapse of oil prices? Hon. Members are entitled to have such a statement. What would happen if the price fell by another $5 a barrel? Would the Government still not take any action? Will the Minister ask the Secretary of State to make a statement at the earliest opportunity?
§ Mr. Buchanan-SmithWhat does the right hon. Gentleman expect will come from such a statement? For what action does he ask? The right hon. Gentleman asks many questions, but does not fully understand the background to the position.