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North Sea Oil

Volume 888: debated on Monday 10 March 1975

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asked the Secretary of State for Energy to what extent it is the Government's policy to accept a floor price for North Sea oil; and whether the range of $6,$8 a barrel is contemplated.

We and the other member States of the International Energy Agency are considering the principle of a floor price for imported oil as one possibility for assisting the development of energy resources. It is too soon to know in what range a floor price, if adopted. would fall.