I am surprised at the complacency and misunderstanding shown by both the Secretary of State on Second Reading and the Minister in Committee and again today about the role of royalty oil during an Oil Shortage Crisis.
The Secretary of State in 1979, the right hon. Member for Guildford (Mr. Howell), faced a Serious Oil Shortage Crisis.
He said that one of the most useful ways to handle an Immediate Oil Shortage Crisis was to take royalty oil in kind or in cash.
Oil Shortage Crisis