HC Deb 24 April 1956 vol 551 cc132-3W
83. Mr. Beswick

asked the Secretary of State for Foreign Affairs, in view of the fact that much of the danger in the Middle East arises from the endeavour of Powers to safeguard their supplies of oil, if he will propose to the nations concerned that a study be made of the proposals put by the International Cooperative Alliance before the United Nations Association and elsewhere, that the oil resources in the Middle East area should be developed by an international consortium.

Mr. Nutting

Most of the oil resources in the Middle East are already being developed by international consortia, and through the equal sharing of profits the oil-producing countries are effective partners in the enterprise. The alternative arrangements suggested by the hon. Member would be impracticable.