§ Mr. Skeetasked the Secretary of State for Energy what is Her Majesty's Government's policy towards a Community approach to the establishment of an oil bank against which member countries could draw in times of economic difficulties.
§ Mr. Norman LamontOil sharing agreements to take effect in the event of a severe oil supply shortfall already exist within the Community and International Energy Agency. The establishment of an oil bank is one of a 25W number of ideas recently put forward to alleviate the problems that may arise from a less severe shortfall. We are studying them with interest.