§ Mr. Michael Spicerasked the Secretary of State for Energy what is his estimate of the number of years the British reserves of North Sea oil are expected to last once production is at full capacity, assuming the United Kingdom supplies all her own oil needs.
§ Mr. John SmithThis depends on the ultimate size of the reserves, which is not yet known; my right hon. Friend's report to Parliament in May quoted a possible total of up to 3,000 million tons for areas already licensed. It will also depend on the rate at which discoveries are made and brought on stream, and on United Kingdom demand for oil in the relevant period. None of these factors can be forecast with certainty at this stage.