Lieut.-Colonel CLAYasked the President of the Board of Trade whether he is in a position to state if boring for oil under Government supervision is proving successful; what is the present weekly output of oil; what is the cost per gallon raised; and when is it expected that the industry will be upon a paying basis?
§ Mr. KELLAWAYI have been asked to answer this question. Until the boreholes now in progress have reached lower horizons it would be premature to express an opinion on the success or otherwise of the operations, and I would refer the hon. and gallant Member to the Official Reports which have been published from time to time in the Press. The Hardstoft well is the only one which has been completed to date, and this has given an average weekly production of 1,734 gallons, a figure which it is anticipated will be largely increased when pumping machinery has been installed. No estimate of the cost per gallon raised can be usefully formed at this stage, but the cost of drilling has necessarily been high on account of the heavy cost of materials and freight during the War and the necessity for protecting the coal seams encountered. The question of placing the industry upon a satisfactory financial basis is one which 1941W is largely dependent upon the early passage of legislation which is contemplated dealing with oil rights.