Skip to main content

Oil Companies (Profits)

Volume 974: debated on Monday 26 November 1979

The text on this page has been created from Hansard archive content, it may contain typographical errors.

17.

asked the Secretary of State for Energy if he will take powers to prevent excessive profits by the oil companies resulting from increases in the Organisation of Petroleum Exporting Countries' prices.

No. Powers already exist, and are in use, to tax oil companies at the appropriate rates.