§ 62. Major Legge-Bourkeasked the Chancellor of the Exchequer whether, in approving the sale of the Trinidad oil industry to the Texas Oil Company, Her Majesty's Government have taken full account of the value of the submarine oil resources capable of development in that area of the Caribbean.
§ Sir E. BoyleI assume my hon. Friend is referring to the proposed sale of the 61W Trinidad Oil Company. In deciding to approve this in principle, subject to conditions, the Government took full account of the value of that company's interest in the development of off-shore oil licences.