HC Deb 09 November 1982 vol 31 cc121-2W
Mr. Major

asked the Secretary of State for Energy what is his latest forecast of oil prices over the period to the year 2000.

Mr. Lawson

My Department has recently presented projections of United Kingdom energy prices and consumption to the Sizewell inquiry; copies have been placed in the Library of the House. These projections, which are not forecasts, are designed to assist the assessment of investment decisions against alternative scenarios for the development of the United Kingdom economy and the structure and levels of energy prices. They examine the implications of two ranges for future energy prices; the lower range assumes no further "shocks" affecting oil and other energy prices, while the higher range would be consistent with developments including one or more major oil market disturbances in the years ahead.