Dr. Morģanasked the Secretary of State for the Colonies whether his attention has been drawn to the fact that in the near future 30,000 acres of oil-bearing lands in Trinidad, including Government leased land, will pass under control and ownership of the National Mining Corporation for exploration, drilling and development; whether the capital and directorate of this corporation is wholly British; and whether any change in the laws of this colony are contemplated with a view to securing the oil resources of the colony being for the community's benefit.
833W
§ Colonel StanleyI have seen a statement in the Press that the Corporation have acquired leases and options covering 24,516 acres of oil-bearing lands in Trinidad, including 18,900 acres of Crown lands. The Governor has, however, not yet given his consent to the transfer of the Crown leases concerned. I am unable to say whether the capital and directorate of the Corporation is wholly British. No change in the law is contemplated, as the bulk of the oil produced comes from Crown oil rights, and the royalties accrue to the Colonial Government.