§ Dr. J. Dickson Mabon
Professor Odell's report provides evidence which supports the steps taken by the Government to secure a direct national say in the development of our oil and gas. However, the report uses a model of oilfield development which yields the misleading conclusion that an average 25 per cent. more reserves could have been recovered from each of the commercial fields if the Government had insisted on different development plans. I am satisfied that the powers available to my right hon. Friend under the Petroleum and Submarine Pipe-lines Act 1975 are adequate to ensure that the national interest is taken fully into account in development decisions, including decisions on the level of reserves which an operator should aim at recovering.