PERSIAN OIL (U.K. COST)

HC Deb 27 July 1954 vol 531 cc38-9W

104. Mr. Stokes

asked the Minister of Fuel and Power what steps he proposes to take to ensure that consumers of oil in the United Kingdom get the full advantage of the cheaper cost of production in the British-controlled oilfields in the Persian Gulf area.

Mr. Geoffrey Lloyd

I believe that we are more likely to get full advantage from any reduction of costs if we continue to rely on competition than if we reimpose Government control.