§ Mr. Leadbitterasked the Secretary of State for Foreign and Commonwealth Affairs what plans Her Majesty's Government have, alone or in concert with Europe and the United States of America, to apply economic pressures on the Arab oil-producing countries should they persist in damaging the economies of the Western world by cutting off or restricting supplies.
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§ Lord BalnielNone. The prime need is for a peaceful settlement in the Middle East.
§ Mr. Leadbitterasked the Secretary of State for Foreign and Commonwealth Affairs what advantages are being enjoyed by the United Kingdom as a result of the favourable treatment offered by the Arab oil-producing States in response to British foreign policy.
§ Lord BalnielAs my right hon. Friend the Prime Minister told the House on 30th October, we attach importance to the assurances on oil supplies we have received from some Arab oil producers. The oil supply position is less precarious than it might otherwise have been.—[Vol. 863, c. 38–40.]
§ Mr. Roseasked the Secretary of State for Foreign and Commonwealth Affairs whether he will seek a meeting of EEC Heads of State with Heads of State of other major oil-using countries such as Japan, the United States of America and Sweden with a view to formulating a common policy towards oil supplies, in view of the fact that the long-term problem wil remain irrespective of the immediate Middle East dispute.
§ Lord BalnielThe countries mentioned are all members of the Organisation for Economic Co-operation and Development whose Oil and Energy Committees meet regularly to consider energy problems, especially in the long term.