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Oil: Prices

Volume 476: debated on Tuesday 20 May 2008

To ask the Secretary of State for Business, Enterprise and Regulatory Reform what information he holds on the assumptions and predictions made by (a) each EU country and (b) each G8 country about the price of oil in (i) 2010 and (ii) 2020 for benchmarking purposes. (206557)

[holding answer 19 May 2008]: The Department is currently in the process of updating its oil price assumptions for the period till 2020, which are used in the Department's analytical work. The last set of future oil price assumptions were published alongside the Energy White Paper in May 2007 and can be found in Annex B of the document titled 'Updated energy and carbon emissions projections: the energy white paper' at the following link:

http://www.berr.gov.uk/files/file39580.pdf.

However, the Department does not hold information on the oil price assumptions and predictions made by the other EU and G8 countries.

The US Department of Energy publishes oil price related information on its EIA website. More information can be found at the following links:

http://www.eia.doe.gov/oiatf/ieo/index.html

http://www.eia.doe.gov/oiaf/ieo/pdf/0484(2007).pdf